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 $82,890 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. Aso assume the following: a. The owner's initial investment consists of $36,880 cash and $46,010 in land in exchange for its common stock. b. The company's $16,780 equipment purchase is paid in cash. c. The accounts payable balance of $7,360 consists of the $2,110 office supplies purchase and $5,250 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 $12,720 consulting fees earned. Jsing the above information prepare an October 31 statement of cash flows for Ernst Consulting. (Cash outflows should be indicated y a minus sign.)