contexternal_browser=0&launchUrl=https%253A%25D Saved Help Save & Ex Check On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $84,780 in assets in exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. Retained earnings, October 1 as $0. Cash Accounts receivable Office supplies Land office equipment Accounts payable Common stock 16,540 3,930 45,980 18,660 9,170 84,780 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,830 16,540 4,300 7.740 850 670 Exercise 1-18 Preparing a statement of cash flows LO P2 Also assume the following: a. The owner's initial investment consists of $38,800 cash and $45.980 in land in exchange for its common stock. b. The company's $18,660 equipment purchase is paid in cash. c. The accounts payable balance of $9,170 consists of the $3.930 office supplies purchase and $5.240 in employee salaries yet to be pald d. The company's rent, telephone, and miscellaneous expenses are paid in cash. e. No cash has been collected on the $16,540 consulting fees earned Using the above information prepare an October 31 statement of cash flows for Ernst Consulting (Cash outflows should be indicated by a minus sign.) ERNST CONSULTING Statement of Cash Flows dtv A 11 + $ 4 % 5 & 7 00* 6 9 { R T Y U - o P [ C c C V Required information Using the above information prepare an October 31 statement of cash flows for Ernst by a minus sign.) ERNST CONSULTING Statement of Cash Flows For Month Ended October 31 Cash flows from operating activities Cash received from customers $ 0 ant $ 0 Cash flows from Investing activities 0 Cash flows from financing activities 0 Cash balance, October 1 Cash balance, October 31 $ 0 Me GE atv DOO 000 % A & 2 1 7