4.) Consultex, Inc., was founded in 2015 as a small financial consulting business. The company had done reasonably well in 20152017 but started noticing its cash dwindle early in 2018. In January 2018, Consultex had paid $12,500 to purchase land and repaid $4,000 principal on an existing promissory note. In March, the company paid $1,300 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 $4,300 by signing a new promissory note in May and also issued stock to a new private investor for $11,300 cash. Year-end comparative balance sheets and income statements are presented below.

CONSULTEX, INC.
Balance Sheet
October 31
	2018			2017
Assets
Cash	$	8,130		$	10,800
Accounts Receivable		12,600			11,300
Prepaid Rent		1,650			2,300
Land		24,500			12,000
Total Assets	$	46,880		$	36,400
Liabilities and Stockholders Equity
Salaries and Wages Payable	$	1,650		$	2,300
Income Taxes Payable		1,200			1,200
Notes Payable (long-term)		11,600			11,300
Common Stock		18,400			8,300
Retained Earnings		14,030			13,300
Total Liabilities and Stockholders Equity	$	46,880		$	36,400

CONSULTEX, INC.
Income Statement
For the Year Ended October 31
	2018			2017
Sales Revenue	$	154,500		$	157,500
Salaries and Wages Expense		97,300			96,300
Rent Expense		35,300			29,300
Utilities Expenses		19,000			19,300
Income before Income Tax Expense		2,900			12,600
Income Tax Expense		870			3,780
Net Income	$	2,030		$	8,820

Required:

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 Cash Flows from Investing Activities: Cash Flows from Financing Activities