On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,580 in assets in exchange for its common stock to launch the business. On October 31, the companys records show the following items and amounts. Retained earnings, October 1 as $0.

Cash	$	9,390		Cash dividends	$	2,650
Accounts receivable		16,020		Consulting revenue		16,020
Office supplies		3,830		Rent expense		4,190
Land		45,980		Salaries expense		7,570
Office equipment		18,550		Telephone expense		830
Accounts payable		9,060		Miscellaneous expenses		650
Common stock		84,580

Also assume the following:

1. The owners initial investment consists of $38,600 cash and $45,980 in land in exchange for its common stock.
2. The companys $18,550 equipment purchase is paid in cash.
3. The accounts payable balance of $9,060 consists of the $3,830 office supplies purchase and $5,230 in employee salaries yet to be paid.
4. The companys rent, telephone, and miscellaneous expenses are paid in cash.
5. No cash has been collected on the $16,020 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.)

Cash flows from operating activities
Cash received from customers
Cash paid for miscellaneous
Cash paid for rent
Cash paid for telephone t
Cash paid to employees
Net cash used by operating activities		$0
Cash flows from investing activities
Cash paid for office equipment
Net cash used by investing		0
Cash flows from financing activities
Cash dividends to shareholders
Cash investments from shareholders
Net cash provided by financing		0
Net increase in cash
Cash balance, October 1
Cash balance, October 31