Statement of Cash Flows

Looney Inc. was organized on July $1,$ Year $1.$ A summary of cash flows for July follows.

Cash receipts:

Cash received from customers

$$139,200$

Cash received from issuance of common stock

$24,000$

Cash received from note payable

$14,400$

Cash payments:

Cash paid out for expenses

$$79,200$

Cash paid out for purchase of equipment

$36,000$

Cash paid as dividends

$4,800$

Prepare a statement of cash flows for the month ended July $31,$ Year $1.$ Use the minus sign to indicate cash decreases in cash, or cash payments. If your answer is zero enter $"0".$

Looney Inc.

Statement of Cash Flows

For the Month Ended July $31,$ Year $1$

Line Item Description

Amount

Amount

Cash flows from operating activities:

$

Cash flows from investing activities:

Cash flows from financing activities:

$

$