Watts Inc. was organized on July 1, 2013. A summary of cash flows for July follows. Cash receipts:..

Watts Inc. was organized on July 1, 2013. A summary of cash flows for July follows. Cash receipts: Cash received from customers ……. $600,000 Cash received from sale of capital stock .. 200,000 Cash received from note payable …… 75,000 Cash payments: Cash paid out for expenses …….. $380,000 Cash paid out for purchase of equipment .. 95,000 Cash paid as dividends ………. 25,000 Prepare a statement of cash flows for the month ended July 31, 2013.