On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,650 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Also assume the following: a. The owner's initial investment consists of $36,570 cash and $46,080 in land in exchange for its common stock. b. The company's $16,450 equipment purchase is paid in cash. c. Cash paid to employees is $1,010. The accounts payable balance of $6,060 consists of the $1,770 office supplies purchase and $4,290 in employee salaries yet to be paid. d. The company's rent expense, telephone expense, and miscellaneous expenses are paid in cash. e. No cash has yet been collected on the $12,410 consulting revenue earned. Jsing the above information prepare a December statement of cash flows for Ernst Consulting. (Cash outflows should be indicate by a minus sign.)