On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,200 in assets in exchange for its common stock to launch the business. On December 31, the companys records show the following items and amounts.

Cash	$ 10,710	Cash dividends	$ 2,180
Accounts receivable	14,600	Consulting revenue	14,600
Office supplies	3,450	Rent expense	3,750
Office equipment	18,170	Salaries expense	7,160
Land	46,030	Telephone expense	780
Accounts payable	8,630	Miscellaneous expenses	600
Common stock	84,200

Also assume the following:

1. The owners initial investment consists of $38,170 cash and $46,030 in land in exchange for its common stock.
2. The companys $18,170 equipment purchase is paid in cash.
3. Cash paid to employees is $1,980. The accounts payable balance of $8,630 consists of the $3,450 office supplies purchase and $5,180 in employee salaries yet to be paid.
4. The companys rent expense, telephone expense, and miscellaneous expenses are paid in cash.
5. No cash has yet been collected on the $14,600 consulting revenue earned.

Using the above information prepare a December statement of cash flows for Ernst Consulting. (Cash outflows should be indicated by a minus sign.)

ERNST CONSULTING
Statement of Cash Flows
For Month Ended December 31
Cash flows from operating activities
Cash received from customers	$0
		$0
Cash flows from investing activities
		0
Cash flows from financing activities
		0
Cash balance, December 1
Cash balance, December 31