A summary of cash flows for Escape Travel Service for the year ended November 30, 2012, is shown below.
Cash receipts:
Cash received from customers ................ $875,000
Cash received from additional investment of owner ...... 45,000
Cash payments:
Cash paid for operating expenses .............. 912,500
Cash paid for land .................... 67,500
Cash paid to owner for personal use ............. 25,000
The cash balance as of December 1, 2011, was $141,750.
Prepare a statement of cash flows for Escape Travel Service for the year ended November 30, 2012.