A summary of cash flows for Paradise Travel Service for the year ended May 31, 20Y6, follows:

Cash receipts:

Cash received from customers...................................$880,000

Cash received from issuing common stock.................40,000

Cash payments:

Cash paid for operating expenses................................758,000

Cash paid for land...........................................................150,000

Cash paid as dividends...................................................10,000

The cash balance as of June 1, 20Y5, was $50,000.

Prepare a statement of cash flows for Paradise Travel Service for the year ended May 31, 20Y6.