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 $83,110 in assets to launch the business. On October 31, the companys records show the following items and amounts.

Cash$14,550. Cash withdrawals by owner$1,120

Accounts receivable12,940. Consulting revenue12,940

Office supplies2,400 Rent expense2,640

Land45,860. Salaries expense5,920

Office equipment17,020. Telephone expense800

Accounts payable7,820. Miscellaneous expenses620

Owner investments83,110

Also assume the following:

The owners initial investment consists of $37,250 cash and $45,860 in land.

The companys $17,020 equipment purchase is paid in cash.

The accounts payable balance of $7,820 consists of the $2,400 office supplies purchase and $5,420 in employee salaries yet to be paid.

The companys rent, telephone, and miscellaneous expenses are paid in cash.

No cash has been collected on the $12,940 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	$0
		$0
Cash flows from investing activities
		0
Cash flows from financing activities
		0
Cash balance, October 1
Cash balance, October 31		$0