Consultex, Inc., was founded in 2015 as a small financial consulting business. The company had done reasonably well in 20152017 but started noticing its cash dwindle early in 2018. In January 2018, Consultex had paid $19,500 to purchase land and repaid $2,000 principal on an existing promissory note. In March, the company paid $2,700 cash for dividends and $1,100 to repurchase and eliminate Consultex stock that had previously been issued for $1,100. To improve its cash position, Consultex borrowed $5,700 by signing a new promissory note in May and also issued stock to a new private investor for $12,700 cash. Year-end comparative balance sheets and income statements are presented below.

CONSULTEX, INC.
Balance Sheet
October 31
	2018			2017
Assets
Cash	$	8,890		$	14,500
Accounts Receivable		15,400			12,700
Prepaid Rent		2,350			3,700
Land		30,500			11,000
Total Assets	$	57,140		$	41,900
Liabilities and Stockholders Equity
Salaries and Wages Payable	$	2,350		$	3,700
Income Taxes Payable		1,100			1,100
Notes Payable (long-term)		16,400			12,700
Common Stock		21,300			9,700
Retained Earnings		15,990			14,700
Total Liabilities and Stockholders Equity	$	57,140		$	41,900

CONSULTEX, INC.
Income Statement
For the Year Ended October 31
	2018			2017
Sales Revenue	$	161,500		$	164,500
Salaries and Wages Expense		98,700			97,700
Rent Expense		36,700			30,700
Utilities Expenses		20,400			20,700
Income before Income Tax Expense		5,700			15,400
Income Tax Expense		1,710			4,620
Net Income	$	3,990		$	10,780

Required:

1. Prepare a properly formatted Statement of Cash Flows for Consultex, Inc., for the year ended October 31, 2018 (using the indirect method). (Amounts to be deducted should be indicated with a minus sign.)

Consultex inc

Statement of Cash Flows

For the Year Ended October 31st, 2018

Cash Flows from Operating Activities:
Changes in Current Assets or Current Liabilities
Cash Flows from Investing Activities
Cash flow from Financing Activities