1. A summary of cash flows for Impeccable Travel Service for the year ended November 30, 2010, is shown below.
Cash receipts:
Cash received from customers . . . . . . . . . . . . . . . . . . . . . $700,000
Cash received from additional investment of owner . . . . . . 36,000
Cash payments:
Cash paid for operating expenses . . . . . . . . . . . . . . . . . . . 730,000
Cash paid for land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54,000
Cash paid to owner for personal use . . . . . . . . . . . . . . . . . 20,000
The cash balance as of December 1, 2009, was $113,400.
Prepare a statement of cash flows for Impeccable Travel Service for the year ended November 30, 2010.