Required information Use the following information for exercise 15 to 18 LO P2 [The following information applies to the questions displayed below! On October 1, Ebony Ernst organized Ernst Consulting, on October 3. the owner contributed $85.460 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 earings, October 1 as so Cash Accounts receivable Office supplies Land office equipment Accounts payable Common stock $ 6,650 18,650 4,640 46,000 19,560 9,690 85,460 Cash dividends Consulting revenue Rent expense Salaries expense Telephore expense Miscellaneous expenses $3,400 18,650 4.920 8,500 390 700 Exercise 1-18 Preparing a statement of cash flows LO P2 Also assume the following: e. The owner's initial investment consists of $39.460 cash and $46,000 in land in exchange for its common stock b. The company's $19,560 equipment purchase is paid in cash. c. The accounts payable batance of $9.890 consists of the S4,540 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 $18.650 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 0