A summary of cash flows for Ethos Consulting Group for the year ended May 31, 2019, follows:
Cash receipts:
Cash received from customers .................................... $637,500
Cash received from additional investment of owner .......... 62,500
Cash payments:
Cash paid for operating expenses ................................. 475,000
Cash paid for land ................................................... 90,000
Cash paid to owner for personal use .............................. 17,500
The cash balance as of June 1, 2018, was $58,000.
Prepare a statement of cash flows for Ethos Consulting Group for the year ended May 31, 2019.