A summary of cash flows for Herat Travel Service for the year ended June 30, 2008, is shown below.
Cash receipts:
Cash received from customers . . . . . . . . . . . . . . . . . . . . . . . . . $350,000
Cash received from additional investment of owner . . . . . . . . 20,000
Cash payments:
Cash paid for operating expenses . . . . . . . . . . . . . . . . . . . . . . . 270,000
Cash paid for land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60,000
Cash paid to owner for personal use . . . . . . . . . . . . . . . . . . . . . 12,000
The cash balance as of July 1, 2007, was $42,800.
Prepare a statement of cash flows for Herat Travel Service for the year ended June 30, 2008.