gnment On October 1. Ebony Ernst organized Enst Consultingr on October 3 the owner contributed $83.850 im assetsin exchange for its commo and amounts. n stock to launch the business. On October 31, the company's records show the following items Cash Accounts receivable 14,eee Consulting revenue Office supplies Land Office equipment 17,820 Telephone expense Accounts payable Common Stock $11,580 Cash dividends $ 1,890 14,000 3,390 6,860 880 690 3,140 Rent expense 46,800 Salaries expense 8,400 Miscellaneous expenses 83,85e Also assume the following: a. The owner's initial investment consists of $37,850 cash and $46.000 in land in exchange for its common stock. b. The company's $17,820 equipment purchase is paid in cash. unts payable balance of $8.400 consists of the $3.140 office supplies purchase and $5.260 in employee salaries yet to be paid. d. The company's rent, telephone, and miscellaneous expenses are paid in cash. e. No cash has been collected on the $14,000 consulting fees earned Using the above information prepare an October 31 statement of cash flows for Ernst Consulting. by a minus sign.) Cash outflows should be indica KPrev5 of 7Next >