Cash Addounts receivable $ 12,650 Cash dividends $2,570 OFFLER supplies DEFace equipment Land 13,520 Consulting revenue 2,858 Rent expense 17,538 Salaries expense 13,528 3,110 6,490 45,948 Telephone expense Accounts payable Cosson stock 8,110 Miscellaneous expenses 83,548 850 660 Exercise 1-21 (Algo) Preparing a statement of cash flows LO P2 Also assume the following e. The owner's initial Investment consists of $37,600 cash and $45.940 in land in exchange for its common stock. b. The company's $17.530 equipment purchase is paid in cash. c. Cash paid to employees is $1,230. The accounts payable balance of $8.110 consists of the $2,850 office supplies purchase and $5.260 in employee salaries yet to be paid. d. The company's rent expense, telephone expense, and miscellaneous expenses are paid in cash e. No cash has yet been collected on the $13.520 consulting revenue earned. Using the above information prepare a December statement of cash flows for Ernst Consulting (Cesh outflows should be indicated by a minus sign.) ERNST CONSULTING Statement of Cash Flows For Month Ended December 31 Cash flows from operating activities Cash received from customers Cash paid for office equipment Cash paid to employees Cash paid for telephone expenses Cash paid for miscellaneous expenses Cash paid for rent Cash flows from investing activities Cash flows from financing activities Cash investments from shareholders Cash balance. December 1 Cash balance December 31 $ S O