Pantera Inc. was organized on May 1, 2011. A summary of cash flows for May follows.
Cash receipts:
Cash received from customers $300,000
Cash received for capital stock 275,000
Cash received from note payable 55,000
Cash payments:
Cash paid out for expenses $180,000
Cash paid out for purchase of equipment 95,000
Cash paid as dividends 15,000
Prepare a statement of cash flows for the month ended May 31, 2011.