Exercise $1-18$ Preparing a statement of cash flows LO P$2$ Also assume the following: a$.$ The owner's initial investment consists of $$36,570$ cash and $$46,080$ in land. b$.$ The company's $$16,450$ equipment purchase is paid in cash. c$.$ The accounts payable balance of $$6,060$ consists of the $$1,770$ office supplies purchase and $$4\mathrm{.}290$ in employee salaries yet to be paid. d$.$ The company's rent, telephone, and miscellaneous expenses are paid in cash. e$.$ No cash has been collected on the $$12,410$ 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 $ $0$ $ $0$ Cash flows from investing activities $0$ Cash flows from financing activities $0$Required information

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 $$85,460$ 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.Exercise $1-21($Algo$)$ Preparing a statement of cash flows LO P$2$

Also assume the following:

a$.$ The owner's initial investment consists of $$39,460$ cash and $$46,000$ in land in exchange for its common stock.

b$.$ The company's $$19,560$ equipment purchase is paid in cash.

c$.$ Cash paid to employees is $$3,250.$ The accounts payable balance of $$9,890$ consists of the $$4,640$ office supplies purchase and

$$5,250$ 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 $$18,650$ consulting revenue earned.

Using the above information prepare a December statement of cash flows for Ernst Consulting.

Note: Cash outflows should be indicated by a minus sign.