A summary of cash flows for Sunset Travel Service for
A summary of cash flows for Sunset Travel Service for the year ended April 30, 2014, is shown below.
Cash receipts:
Cash received from customers ........ $1,500,000
Cash received from issuing capital stock .... 75,000
Cash payments:
Cash paid for operating expenses ...... 1,215,000
Cash paid for land .............. 240,000
Cash paid for dividends ............ 66,000
The cash balance as of May 1, 2013, was $220,000.
Prepare a statement of cash flows for Sunset Travel Service for the year ended April 30, 2014.

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