The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,850 in assets in exchange for its common stock to launch the business. On October 31, the companys records show the following items and amounts. Retained earnings, October 1 as $0.

Cash	$	11,580		Cash dividends	$	1,890
Accounts receivable		13,860		Consulting revenue		13,860
Office supplies		3,140		Rent expense		3,390
Land		46,000		Salaries expense		6,860
Office equipment		17,820		Telephone expense		880
Accounts payable		8,400		Miscellaneous expenses		690
Common stock		83,850

Also assume the following:

1. The owners initial investment consists of $37,850 cash and $46,000 in land in exchange for its common stock.
2. The companys $17,820 equipment purchase is paid in cash.
3. The accounts payable balance of $8,400 consists of the $3,140 office supplies purchase and $5,260 in employee salaries yet to be paid.
4. The companys rent, telephone, and miscellaneous expenses are paid in cash.
5. No cash has been collected on the $13,860 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
Cash paid to employees
Cash paid for rent
Cash paid for telephone expenses
Cash paid for miscellaneous expenses
Net cash used by operating activities		$0
Cash flows from investing activities
Cash paid for office equipment
Net cash used by investing activities		0
Cash flows from financing activities
Cash investments from shareholders
Cash dividends to shareholders
Net cash provided by financing activities		0
Net increase in cash
Cash balance, October 1
Cash balance, October 31		$0