Required information [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,220 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. Also assume the following: a. The owner's initial investment consists of $37,380 cash and $45,840 in land in exchange for its common stock. b. The company's $17,200 equipment purchase is paid in cash. c. Cash paid to employees is $840. The accounts payable balance of $7,810 consists of the $2,530 office supplies purchase and $5,280 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 $13,140 consulting revenue earned. Using the above information prepare a December statement of cash flows for Ernst Consulting. (Cash outflows should be indicated