A summary of cash flows for Leotard Travel Service for the year ended February 28, 2008, is shown below.
Cash receipts:
Cash received from customers . . . . . . . . . . . . . . . . . . . . . . . . . . $350,000
Cash received from additional investment of owner . . . . . . . . 18,000
Cash payments:
Cash paid for operating expenses . . . . . . . . . . . . . . . . . . . . . . . 365,000
Cash paid for land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,000
Cash paid to owner for personal use . . . . . . . . . . . . . . . . . . . . . 10,000
The cash balance as of March 1, 2007, was $56,700.
Prepare a statement of cash flows for Leotard Travel Service for the year ended February 28, 2008.