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