Use the following information for the Exercises below. (Algo) [The following Information applies to the questions...

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Use the following information for the Exercises below. (Algo) [The following Information applies to the questions displayed below] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84.920 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable. office supplies $ 8,450 Cash dividends 16,950 Consulting revenue 4,080 Kent expense Salaries expense. Office equipment 18,860 Land 46,020 Telephone expense Accounts payable 9,280 Miscellaneous expenses Common stock 84,920 16,250 AA2 2000 360 Exercise 1-21 (Algo) Preparing a statement of cash flows LO P2 Also assume the following: a. The owner's initial Investment consists of $38,900 cash and $46,020 in land in exchange for its common stock b. The company's $18,860 equipment purchase is paid in cash. c. Cash paid to employees is $2.700. The accounts payable balance of $9,280 consists of the $4,080 office supplies purchase and $5,200 in employee salaries 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 $16,950 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.) Use the following information for the Exercises below. (Algo) [The following Information applies to the questions displayed below] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84.920 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable. office supplies $ 8,450 Cash dividends 16,950 Consulting revenue 4,080 Kent expense Salaries expense. Office equipment 18,860 Land 46,020 Telephone expense Accounts payable 9,280 Miscellaneous expenses Common stock 84,920 16,250 AA2 2000 360 Exercise 1-21 (Algo) Preparing a statement of cash flows LO P2 Also assume the following: a. The owner's initial Investment consists of $38,900 cash and $46,020 in land in exchange for its common stock b. The company's $18,860 equipment purchase is paid in cash. c. Cash paid to employees is $2.700. The accounts payable balance of $9,280 consists of the $4,080 office supplies purchase and $5,200 in employee salaries 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 $16,950 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.)