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Congultex, lhcorparsted, wes faunded in 2018 ss s smel finsncial consulting business. The compony had dane reesonebly well from 2018 through 2020 but started nat
Congultex, lhcorparsted, wes faunded in 2018 ss s smel finsncial consulting business. The compony had dane reesonebly well from 2018 through 2020 but started nat cing its cash dwind e early in 2021 In lanusry 2021, Consultex had poid \$14,500 to purchese land and repoid $3,000 principsl an an exlating promisary nate. In March, the compsny psid $1,700 cesh for dividends and $1,100 to repurchsse end eliminete Conzultex stack that had previously been lasued for $1,100. To improve its cssh poaltion, Consultex borrowed \$4,700 by signing s new promisaary note in Moy snd slso lasued stock to s new privste investor for $11,700 cash. Yesr-end comporstve boisnce sheets snd income statementa are presented below. Required: 1. Prepsre o properly formstted Ststement of Cash Flaws for Conzultex, Incorporsted, for the yesr ended Octaber 31 , 2021 (using the indirect methoo). (Amounts to be deducted should be indicated with a minus sign.)
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