On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,390 in assets in exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. $ 1,460 12,300 2,950 6,290 830 $13,210 12,300 2,720 45,910 17,350 7,970 83,390 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses Cash Accounts receivable Office supplies Land office equipment Accounts payable 640 Comnon Stock Also assume the following: a. The owner's initial investment consists of $37,480 cash and $45,910 in land in exchange for its common stock.. b. The company's $17,350 equipment purchase is paid in cash. c. The accounts payable balance of $7,970 consists of the $2,720 office supplies purchase and $5,250 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 $12,300 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 As of October 31 Cash flows from operating activities