Answer:
Paradise Travel Service
Cash Flow Statement
For the Year Ended May 31, 2018
Cash flows from operating activities:
Cash received from customers $880,000
<u>Cash paid for operating expenses -$758,000</u>
Net cash provided by operating activities $122,000
Cash flows from investing activities:
<u>Cash paid for land -$150,000</u>
Net cash provided by investing activities -$150,000
Cash flows from financing activities:
Cash received from issuing common stock $40,000
<u>Cash paid as dividends -$10,000</u>
Net cash provided by financing activities $30,000
Net increase in cash $2,000
<u>Cash balance June 1, 2017 $50,000</u>
Cash balance May 31, 2017 $52,000