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 $84,470 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: o. The owner's initial investment consists of $38,500 cash and $45,970 in land in exchange for its common stock. b. The company's $18,450 equipment purchase is paid in cash. c. Cash paid to employees is $2,260. The accounts payable balance of $8,900 consists of the $3,710 office supplies purchase and $5,190 in employee salaries yet to be paid. d. The company's rent expense, telephone expense, and miscellaneous expenses are paid in cash. \begin{tabular}{|l|l|l|l|} \hline \multicolumn{2}{|c|}{ ERNST CONSULTING } \\ \hline \multicolumn{2}{|c|}{ Sor Monthent of Cash Flows } \\ \hline Cash flows from operating activities & & & \\ \hline Cash received from customers & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & \\ \hline Cash flows from investing activities & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular}