Consultex, Inc., was founded in 2015 as a small financial consulting business. The company had done reasonably well in 2015-2017 but started noticing its cash dwindle early in 2018. In January 2018, Consultex had paid $15,500 to purchase land and repaid $3,000 principal on an existing promissory note. In March, the company paid $1,900 cash for dividends and $1,200 to repurchase and eliminate Consultex stock that had previously been issued for $1,200. To improve its cash position, Consultex borrowed $4,900 by signing a new promissory note in May and also issued stock to a new private investor for $11,900 cash. Year-end comparative balance sheets and income statements are presented below CONSULTEX, INC Balance Sheet October 31 2018 2017 Assets Cash Accounts Receivable Prepaid Rent Land $8,170 $12,000 13,800 11,900 1,950 2,900 27,500 12,000 $51,420 $38,800 Total Assets Liabilities and Stockholders' Equity Salaries and Wages Payable Income Taxes Payable Notes Payable (long-term) Common Stock Retained Earnings $1,950 2,900 1,200 1,200 13,800 11,900 19,600 8,900 14,870 13,900 $51,420 $38,800 Total Liabilities and Stockholders' Equity CONSULTEX, INC Income Statement For the Year Ended October 31 2018 2017 Sales Revenue Salaries and Wages Expense Rent Expense Utilities Expenses Income before Income Tax Dxpense Income Tax Expense Net Income $157,500 $160,500 97,900 96,900 35,900 29,900 19,900 4,100 13,800 4,140 $ 2,870 $ 9,660 19,600 1,230 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 31, 2018 Cash Flows from Operating Activities: Changes in Current Assets and Current Liabilities Cash Flows from Investing Activities Cash Flows from Financing Activities