Saved Help Save & Exit Check my On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $84,580 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. Cash Accounts receivable office supplies Land office equipment Accounts payable Common stock $ 9,390 16,020 3,830 45,980 18,550 9,060 84,580 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,650 16,020 4,190 7,570 830 650 Using the above information prepare an October statement of retained earnings for Ernst Consulting. Using the above information prepare an October statement of retained earnings for Ernst Consulting. ERNST CONSULTING Statement of Retained Earnings For Month Ended October 31 0 ok $ 0 nt ERNST CONSULTING Balance Sheet 0 Also assume the following: a. The owner's initial investment consists of $38,600 cash and $45,980 in land in exchange for its common stock b. The company's $18,550 equipment purchase is paid in cash. c. The accounts payable balance of $9,060 consists of the $3,830 office supplies purchase and $5,230 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 $16,020 consulting fees earned. Using the above information prepare an October 31 statement of cash flows for Ernst Consulting. Ish outflows should be indicated by a minus sign.) Part 4 of 4 Required information ERNST CONSULTING Statement of Cash Flows For Month Ended October 31 Cash flows from operating activities Cash received from customers $ 0 1.25 points eBook Hint $ 0 Print Cash flows from investing activities 0 Cash flows from financing activities 0 Cash balance, October 1 Cash balance, October 31