On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $85,050 in assets in exchange for its common stock to launch the business. On October 31, the companys records show the following items and amounts.

Cash	$	7,950		Cash dividends	$	3,070
Accounts receivable		17,500		Consulting revenue		17,500
Office supplies		4,200		Rent expense		4,530
Land		46,010		Salaries expense		8,090
Office equipment		19,060		Telephone expense		880
Accounts payable		9,430		Miscellaneous expenses		690
Common Stock		85,050

Also assume the following:

1. The owners initial investment consists of $39,040 cash and $46,010 in land in exchange for its common stock..
2. The companys $19,060 equipment purchase is paid in cash.
3. The accounts payable balance of $9,430 consists of the $4,200 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 $17,500 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.)