a$.$ The owner's initial Investment consists of $$37,250$ cash and $$45,860$ in land in exchange for its common stock.

b$.$ The company's $$17,020$ equipment purchase is pald in cash.

c$.$ Cash pald to employees is $$500.$ The accounts payable balance of $$7,820$ consists of the $$2,400$ office supplies purchase and $$5,420$ in employee salarles yet to be pald.

d$.$ The company's rent expense, telephone expense, and miscellaneous expenses are pald In cash.

e$.$ No cash has yet been collected on the $$12,940$ consulting revenue earned.

Using the above Information prepare a December statement of cash flows for Ernst Consulting.

Note: Cash outflows should be Indicated by a minus sign.

$\backslash$table$[[$ERN ST CONSULTING$],[$Statement of Cash Flows$],[$For Month Ended December $31],[$Cash flows from operating activities$],[$Cash received from customers,$$,,],[$Cash paid to employees,$500,,],[$Cash paid for rent,$2,640,,],[$Cash paid for telephone expenses,$800,,],[$Cash paid for miscellaneous expenses,$620,,],[$F$],[$Net cash used by operating activities,,$$,4,560],[$Cash flows from investing activities$],[$Cash paid for office equipment,$17,020,,],[$F$],[$Net cash used by investing activities,,,$17,020],[$Cash flows from financing activities$],[$Cash investments from shareholders,$37,250,,],[$Cash dividends to shareholders,$1,120,,],[?],[$Net cash provided by financing activities,,,$38,370],[$Net increase in cash$],[$Cash balance, December $1,,,14,550],[$Cash balance, December $31,,$$$,14,550]]$