Required information Use the following information for the Exercises below. (Static) (The following information applies to me questions displayed below) On December 1. Jasmin Emst organized Emst Consulting On December 3, the owner contributed $84,000 in assets an exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts Ca Keunt offien suppli Since pay Clack 11, 340 Cash dividende 14,000 conating revenu $3,000 14,000 3.550 1,000 ar 1,000 4,000 Telephone p 740 ,000 Millanous pe $4,500 300 Exercise 1-21 (Static) Preparing a statement of cash flows LO P2 Also assume the following a. The owner's intial investment consists of $38.000 cash and $46.000 in land in exchange for its common stock b. The company's $18.000 eqroment purchase is paid in cash e. Cash paid to employees is $1750 The accounts payable balance of $8.500 consists of the $3,250 office supplies purchase and $5.250 in employee salanes yet to be paid d. The company's rent expense, telephone expense, and miscellaneous expenses are paid in cash e. No cash has yet been collected on the $14,000 consulting revenue earned Using the above information prepare a December statement of cash flows for Ernst Consulting (Cash outflows should be indicated by a minus sign.) Required information ERNST CONSULTING Statement of Cash Flows For Month Ended December 31 Cash flows from operating activites Cash received from customers $ 0 $ Cash flows from investing activites Cash flows from financing activities Cash balance, December 11 Cash balance, December 31 $ 0 # 3 E 4 49 96 5 4- R T Q +D < Prev 90 & 6 7 8