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aloe 10.00 points Consultex, Inc was foundedin 2012 as a small financial consulting business. The company had done reasonably well in 2012-2014 but started noticing

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aloe 10.00 points Consultex, Inc was foundedin 2012 as a small financial consulting business. The company had done reasonably well in 2012-2014 but started noticing its cash dwindle early in 2015. In January 2015, Consultes hadpaid $21,000to purchase landand repaid $2,000 principal on anexistingpromissory note. In March, the companypaid $3,000 cash for dividends and$1,100 to repurchase andeliminate Consultex stock that had previously beenissued for S1,100. To improve its cash position Consultex borrowed $6,000 by signing a new promissory notein May and also issued stockto a newprivate investor for $13,000 cash Year-end comparative balance sheets and income statements are presented below (Ctrl)

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