4. Consultex, Inc., was founded in 2015 as a small financial consulting business. The company had done reasonably well in 2015-2017 but started noticing its cash dwindle early in 2018. In January 2018. Consultex had paid $12,000 to purchase land and repaid $4,000 principal on an existing promissory note. In March, the company paid $1.200 cash for dividends and $1,000 to repurchase and eliminate Consultex stock that had previously been issued for $1,000. To improve its cash position, Consultex borrowed $4,200 by signing a new promissory note in May and also issued stock to a new private investor for $11,200 cash. Year-end comparative balance sheets and income statements are presented below. 340250 CONSULTEX, INC. Balance Sheet October 31 pped 2018 2017 ook $10,290 $12,400 12,400 11,280 1,600 2,200 22,000 10,000 $46,290 $35,800 Assets Cash 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 int $ 1,600 $ 2,200 1,000 1,000 11,400 11,200 18,400 8,200 13,890 13,200 $46,290 $35,800 ences CONSULTEX, INC. Income Statement For the Year Ended October 31 2018 2017 Sales Revenue $154,000 $157,000 Salaries and Wages Expense 97,200 96,200 Rent Expense 35,200 29,200 Utilities Expenses 18,900 19,200 Income before Income Tax Expense 2,700 12,400 Income Tax Expense 810 3,720 Net Income $ 1,890 $ 8,680 1. Prepare a properly formatted Statement of Cash Flows for Consultex, Inc., for the year ended October 31, 2018 (using the indirect method). (Amounts to be deducted should be indicated with a minus sign.) CONSULTEX, INC. Statement of Cash Flows For the Year Ended October 31, 2018 Cash Flows from Operating Activities: Changes in Current Assets and Current Liabilities 0 Cash Flows from Investing Activities: 0 Cash Flows from Financing Activities: + 0 $ 0