The following information applies to the questions displayed below 12 On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,000 in assets to launch the business. On October 31, the company's records show the following items and amounts $ 2,000 14,000 3,550 7,000 Cash withdrawals by owner Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses Cash $11,360 14,000 3,250 46,000 18,000 8,500 84,000 Accounts receivable office supplies Land Part 4 of 4 office equipment Accounts payable Owner investments 760 580 0.1 points Also assume the following: eBook a. The owner's initial investment consists of $38,000 cash and $46,000 in land. b. The company's $18,000 equipment purchase is paid in cash. c. The accounts payable balance of $8,500 consists of the $3,250 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 $14,000 consulting fees earned Hint Print Using the above information prepare an October 31 statement of cash flows for Ernst Consulting. (Cash outflows should be indicated by a minus sign.) References ERNST CONSULTING Statement of Cash Flows For Month Ended October 31 Cash flows from operating activities Cash received from customers $ C Cash flows from investing activities Cash flows from financing activities Cash balance, October 1 Cash balance, October 31