use the information in exercise 1-15 to prepare and October 31 statement of cash flows for Earnest Consulting. Assume the following additional information. a. the owner initial investment consists of $38,000 cash and $46,000 in land. b. the company $18,000 equipment purchase

is paid in cash. c. the accounts payable of $8,500 consists of the $3,250 office supplies purchase and $5,250 in employee salaries yet to be paid. d. the company has been collected on the $14,000 consulting fees earned.

$2,000 14,000 3,550 . ..7,000 760 580 Cash . . . $11,360 Consulting revenue.. .. Rent expense 14,000 Office supplies 3,250 46,000 18,000 8,500 Office equipment Miscellaneous expenses .. Owner investments . . . . 84,000