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 $$37,050$ cash and $$45,960$ in land.

b$.$ The company's $$16,900$ equipment purchase is paid in cash.

c$.$ Cash paid to employees is $$400.$ The accounts payable balance of $$7,670$ consists of the $$2,290$ office supplies purchase anc $$5,380$ 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 $$12,820$ 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.

$\backslash$table$[[$ERNST CONSULTING$],[$Statement of Cash Flows,$],[$For Month Ended December $31,],[$Cash flows from operating activities,$],[$Cash received from customers,$]]$

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