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 $600,000 Cash received from issuance of common stock 200,000 75,000 Cash received from note payable Cash payments: Cash paid out for expenses $380,000 95,000 Cash paid out for purchase of equipment Cash paid as dividends 25,000 Prepare a statement of cash flows for the month ended July 31, Year 1. Use the minus sign to indicate cash out flows, decreases in cash, or cash payments. If an amount is zero, enter "0". Prepare a statement of cash flows for the month ended July 31, Year 1. Use the minus sign to indicate cash out flows, decreases in cash, or cash payments. If an amount is zero, enter "0". Looney Inc. Statement of Cash Flows For the Month Ended July 31, Year 1 Cash flows from operating activities: Cash flows from investing activities: Cash flows from financing activities