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 $84,580 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, Retained earnings, October 1 as $0 Cash Accounts receivable office supplies Land Office equipment Accounts payable Common stock $9,390 16,020 3,830 45,980 18,550 9,060 84,580 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,650 16,020 4,190 7,570 830 650 Also assume the following: a. The owner's initial investment consists of $38,600 cash and $45,980 in land in exchange for its common stock b. The company's $18,550 equipment purchase is paid in cash. c. The accounts payable balance of $9,060 consists of the $3,830 office supplies purchase and $5,230 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 $16,020 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 For Month Ended October 31 Cash flows from operating activities Cash received from customers $ es Cash flows from investing activities Cash flows from financing activities Cash balance, October 1 Cash balance, October 31