0.50 points E12-13 Preparing and Evaluating a Statement of Cash Flows (Indirect Method) from Compare Consultex, Inc. was founded in 2012 as a small financial consulting business. The company had done reasonably well in 2012-2014 but started noticing its cash dwindle early in 2015. In January 2015, Consultex had paid $16,000 to purchase land and repaid $2,000 principal on an existing promissory note. In March, the company paid $2,000 cash for dividends and $1,000 to repurchase Consultex stock that had previously been issued for S1,000. To improve its cash position, Consultex borrowed $5,000 by signing a new promissory note in May and also issued stock to a new private investor for $12,000 cash. Year-endoomparative balance sheets and income statements are presented below. CONSULTEX, INC October 31 2014 $11,000 $14,000 14,000 12,000 26.000 10,000 Land $53,000 $39,000 Total Assets Liabilities and Stockholders' Equity 2,000 3,000 Salaries and Wages Payable Income Taxes Payable Notes Payable (ong-term Retained Eamings Total Liabilities and Stockholders' Equity $53,000 $39,000 CONSULTEX, INC For the Year Ended October 31 $158,000 98,000 97,000 Salaries and Wages Expense 19,700 4300 14,000 Income before Income Tax Expense Income Tax Prepare a property formatted Statement of Cash Flows for Consultex, Inc. for the year ended October 31, 2015 (using the indirect method). (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows O ype here to search