On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $82,650 in assets to launch the business. On October 31, the company's records show the following items and amounts.

Required information Use the following information for exercise 15 to 18 LO P2 [The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $82,650 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash $15, 200 Cash withdrawals by owner 12, 410 $ 460 Accounts receivable 1, 770 Consulting revenue 12, 410 Office supplies Rent expense 2, 140 Land 46, 080 Salaries expense 5, 300 Office equipment 16, 450 Telephone expense 750 Accounts payable 6, 060 Miscellaneous expenses 560 Owner investments 32, 650 Exercise 1-18 Preparing a statement of cash flows LO P2 Also assume the following: a. The owner's initial investment consists of $36,570 cash and $46,080 in land. b. The company's $16,450 equipment purchase is paid in cash. c. 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, telephone, and miscellaneous expenses are paid in cash. e. No cash has been collected on the $12,410 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.) ERNST CONSULTING Statement of Cash Flows For Month Ended October 31 Cash flows from operating activities Cash received from customers $ 0 Cash flows from investing activities Cash flows from financing activities Cash balance, October 1 Cash balance, October 31