Check my work 4 of 4 Required information (The following information applies to the questions displayed below.) On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,360 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash $ 7,010 Canh dividends $ 3,390 Accounts receivable 18,350 Consulting revenue 18,350 office supplies 4,480 Rent expense 4,820 office equipment 19,360 Salaries expense 8,370 Land 46,040 Telephone expense 910 Accounts payable 9,740 Miscellaneous expenses 720 Common stock 05,360 Book Pr ferences Also assume the following: a. The owner's initial investment consists of $39,320 cash and $46,040 in land in exchange for its common stock. b. The company's $19,360 equipment purchase is paid in cash. c. Cash pold to employees is $3,110. The accounts payable balance of $9,740 consists of the $4,480 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 $18,350 consulting revenue earned. Using the above information prepare a December statement of cash flows for Ernst Consulting (Cash 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 $ $ 0 O $ 0 Cash flows from investing activities 0 0 Cash flows from financing activities 0 Cash balance, December 1 Cash balance, December 31 $ 0