Required information [The following information applies to the questions displayed below.) On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,200 in assets to launch the business. On October 31, the company's records show the following items and amounts. cash withdrawals by owner Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $10, 710 14, 160 3, 450 46, 030 18, 170 8, 630 84, 200 $ 2, 180 14, 160 3,750 7,160 780 600 Cash Accounts receivable office supplies Land Office equipment Accounts payable Owner investments Also assume the following: a. The owner's initial investment consists of $38,170 cash and $46,030 in land. b. The company's $18,170 equipment purchase is paid in cash. c. The accounts payable balance of $8,630 consists of the $3,450 office supplies purchase and $5,180 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 $14,160 consulting fees earned. Using the above information prepare an October 31 statement of cash flows for Ernst Consulting. (Cash outflows should be indicated by a minus sign.) ERNST CONSSULTING Statement of Cash Flows ICash fiows from operating activities Required information ERNST CONSULTING Statement of Cash Flows Cash flows from operating activities Cash received from customers 2$ 24 Cash flows from investing activities Cash flows from financing activities Required information 2$ Cash flows from investing activities Cash flows from financing activities Cash balance, October 1 Cash balance, October 31 7. of 14