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Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Emst Consulting. On December 3 , the owner contributed $85,050 in assets in exchange for its common stock to launch the business. On December 31 , the company's records show the following items and amounts. Use the above information to prepare a December 31 balance sneetror cinst cuisuing. Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,050 in assets in exchange for its common stock to launch the business. On December 31 , the company's records show the following items and amounts. Exercise 1-21 (Algo) Preparing a statement of cash flows LO P2 Also assume the following: a. The owner's initial investment consists of $39,040 cash and $46.010 in land in exchange for its common stock. c. Cash paid to employees is $2,860. The accounts payable balance of $9,430 consists of the $4,200 office supplies purchase and b. The company's $19.060 equlpment purchase is paid in cash. $5,230 in employee salaries yet to be paid. d. The company's rent expense, telephone expense, and miscellaneous expenses are paid in cash. e. No cash has yet been collected on the $17,450 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.) Required information Statement of Cash Flows Part 4 of 4 For Month Ended December 31 \begin{tabular}{l} 2 PartA \\ points \\ eBook \\ Hint \\ Pilint \\ References \\ \hline \end{tabular}