A summary of cash flows for Ethos Consulting Group for the year ended May 31, 2014, is shown below.

Cash receipts:

Cash received from customers ...........$637,500

Cash received from issuing capital stock ....... 62,500

Cash payments:

Cash paid for operating expenses ......... 475,000

Cash paid for land ................ 90,000

Cash paid for dividends ............. 17,500

The cash balance as of June 1, 2013, was $58,000.

Prepare a statement of cash flows for Ethos Consulting Group for the year ended May 31, 2014.