Consultex, Incorporated, was founded in 2018 as a small financial consulting business. The company had done reasonably well from 2018 through 2020 but started noticing its cash dwindle early in 2021. In January 2021, Consultex had paid $16,000 to purchase land and repaid $2,000 principal on an existing promissory note. In March, the company paid $2,000 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 $5,000 by signing a new promissory note in May and also issued stock to a new private investor for $12,000 cash. Year-end comparative balance sheets and income statements are presented below.

CONSULTEX, INCORPORATED
Balance Sheet
October 31
	2021	2020
Assets
Cash	$ 11,000	$ 14,000
Accounts Receivable	14,000	12,000
Prepaid Rent	2,000	3,000
Land	26,000	10,000
Total Assets	$ 53,000	$ 39,000
Liabilities and Stockholders Equity
Salaries and Wages Payable	$ 2,000	$ 3,000
Income Taxes Payable	1,000	1,000
Notes Payable (long-term)	15,000	12,000
Common Stock	20,000	9,000
Retained Earnings	15,000	14,000
Total Liabilities and Stockholders Equity	$ 53,000	$ 39,000

CONSULTEX, INCORPORATED
Income Statement
For the Year Ended October 31
	2021	2020
Sales Revenue	$ 158,000	$ 161,000
Salaries and Wages Expense	98,000	97,000
Rent Expense	36,000	30,000
Utilities Expenses	19,700	20,000
Income before Income Tax Expense	4,300	14,000
Income Tax Expense	1,300	4,200
Net Income	$ 3,000	$ 9,800

Required:

1. Prepare a properly formatted Statement of Cash Flows for Consultex, Incorporated, for the year ended October 31, 2021 (using the indirect method). (Amounts to be deducted should be indicated with a minus sign.)