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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
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 dwindie carty in 2021 . In January 2021, Consultex had pald $18,500 to purchase land and repaid \$2,000 principal on an existing promissory note. in March, the company paid \$2,500 cash for dividends and \$1,200 to repurchase and eliminate Consuitex stock that had previously been issued for $1,200. To improve its cash position, Consultex borrowed $5.500 by signing a new promissory note in May and also issued stock to a new private investor for $12,500 cash. Year-end comparative balance sheets and income statements are presented below 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.)
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