E$12-13($Algo$)$ Preparing and Evaluating a Statement of Cash Flows $($Indirect Method$)$ from Comparative Balance Sheets and Income Statements $[$LO $12-1,$ LO $12-2,$ LO $12-3,$ LO $12-4,$ LO $12-5]$

Consultex, Incorporated, was founded in $2018$ as a small financial consulting business. The company had done reasonably well from $2018$ through $2020$ but started noticing its cash dwindle early in $2021.$ In January $2021,$ Consultex had paid $$17,000$ to purchase land and repaid $$2,000$ principal on an existing promissory note. In March, the company paid $$2,200$ cash for dividends and $$1,200$ to repurchase and eliminate Consultex stock that had previously been issued for $$1,200.$ To improve its cash position, Consultex borrowed $$5,200$ by signing a new promissory note in May and also issued stock to a new private investor for $$12,200$ cash. Year$-$end comparative balance sheets and income statements are presented below.

CONSULTEX, INCORPORATED

Balance Sheet

October $31$

Required:

Prepare a properly formatted Statement of Cash Flows for Consultex, Incorporated, for the year ended October $31,2021($using the indirect method$).($Amounts to be deducted should be indicated with a minus sign.$)$