Required information [The following information applies to the questions displired bolow] On December 1, Jasmin Ernat organized Ernst Consutting. On December 3 , the owner contributed $84780 in assots in exchange for its common stock to launch the business. On Decomber 31 , the company's records show the following items and amounts Also assume the foliowing a. The owners inita investment consists of $38,800 cash and $45,980 in land in exchange for its comimon stock. b. The companys $18.660 equipment purchase is poid in cash 5. Cash paid to employees is $2.500. The accounts payable balance of $9.170 consists of the $3,930 ofice supples purchase and 55,240 in employee salaries yet to be paid d. The company's ren expense, telophone expense. and miscelloneous expenses are paid in cash. e. No cash has yet been collected on the $16,540 consulting revence earned Using the above information prepare a December statement of cash flows for Ernst Consulting Note: Cash outflows should be indicated by a minus sign. Required information [The following information applies to the questions displired bolow] On December 1, Jasmin Ernat organized Ernst Consutting. On December 3 , the owner contributed $84780 in assots in exchange for its common stock to launch the business. On Decomber 31 , the company's records show the following items and amounts Also assume the foliowing a. The owners inita investment consists of $38,800 cash and $45,980 in land in exchange for its comimon stock. b. The companys $18.660 equipment purchase is poid in cash 5. Cash paid to employees is $2.500. The accounts payable balance of $9.170 consists of the $3,930 ofice supples purchase and 55,240 in employee salaries yet to be paid d. The company's ren expense, telophone expense. and miscelloneous expenses are paid in cash. e. No cash has yet been collected on the $16,540 consulting revence earned Using the above information prepare a December statement of cash flows for Ernst Consulting Note: Cash outflows should be indicated by a minus sign