10 4 points Consultex, Incorporated, was founded in 2018 as a small financial consulting business. The company had done reasonably well from 2018 through 2020 but started noticing its cash dwindle early in 2021. In January 2021, Consultex had paid $11,000 to purchase land and repaid $4,000 principal on an existing promissory note. In March, the company paid $1,000 cash for dividends and $1,200 to repurchase and eliminate Consultex stock that had previously been issued for $1,200. To improve its cash position, Consultex borrowed $4,000 by signing a new promissory note in May and also issued stock to a new private investor for $11,000 cash. Year-end comparative balance sheets and income statements are presented below. Print Assets Cash CONSULTEX, INCORPORATED Balance Sheet October 31. Accounts Receivable Prepaid Rent Land Total Assets Liabilities and Stockholders' Equity Salaries and Wages Payable Income Taxes Payable Notes Payable (long-term) Common Stock Retained Earnings Total Liabilities and Stockholders' Equity CONSULTEX, INCORPORATED Income Statement For the Year Ended October 31 Sales Revenue Salaries and Wages Expense Rent Expense Utilities Expenses Income before Income Tax Expense Income Tax Expense 2021 2020 $ 8,610 12,000 $ 10,200 1,500 23,000 11,000 2,000 12,000 $ 45,110 $ 35,200 $ 1,500 $2,000 1,200 1,200 11,000 11,000 17,800 8,000 13,610 13,000 $45,110 $35,200 2021 $ 153,000 2020 $ 156,000 97,000 96,000 35,000 29,000 18,700 19,000 2,300 12,000 690 $1,610 3,600 $8,400 Net Income Required: 1. Prepare a properly formatted Statement of Cash Flows for Consultex, Incorporated, for the year ended October 31, 2021 (using. the indirect method). (Amounts to be deducted should be indicated with a minus sign.)