Consultex, Inc. was founded in 2012 as a small financial consulting business. The company had done reasonably well in 20122014 but started noticing its cash dwindle early in 2015. In January 2015, Consultex had paid $20,500 to purchase land and repaid $2,000 principal on an existing promissory note. In March, the company paid $2,900 cash for dividends and $1,000 to repurchase and eliminate Consultex stock that had previously been issued for $1,000. To improve its cash position, Consultex borrowed $5,900 by signing a new promissory note in May and also issued stock to a new private investor for $12,900 cash. Year-end comparative balance sheets and income statements are presented below. CONSULTEX, INC. Balance Sheet October 31 2015 2014 Assets Cash $ 9,570 $ 15,800 Accounts Receivable 15,800 12,900 Prepaid Rent 2,450 3,900 Land 30,500 10,000 Total Assets $ 58,320 $ 42,600 Liabilities and Stockholders Equity Salaries and Wages Payable $ 2,450 $ 3,900 Income Taxes Payable 1,000 1,000 Notes Payable (long-term) 16,800 12,900 Common Stock 21,800 9,900 Retained Earnings 16,270 14,900 Total Liabilities and Stockholders Equity $ 58,320 $ 42,600 CONSULTEX, INC. Income Statement For the Year Ended October 31 2015 2014 Sales Revenue Salaries and Wages Expense $ 162,500 $ 165,500 Rent Expense 98,900 97,900 Prepaid Rent 36,900 30,900 Utilities Expenses 20,600 20,900 Income before Income Tax Expense $ 6,100 $ 15,800 Income Tax Expense 1,830 4,740 Net Income 4,270 11,060 Required: Prepare a properly formatted Statement of Cash Flows for Consultex, Inc. for the year ended October 31, 2015 (using the indirect method). (Amounts to be deducted should be indicated with a minus sign.)