Exercise 1-18 Preparing a statement of cash flows LO P2 Also assume the following: a. The owner's initial investment consists of $37,250 cash and $45,860 in land. b. The company's $17,020 equipment purchase is paid in cash c. The accounts payable balance of $7.820 consists of the $2.400 office supplies purchase and $5,420 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 $12.940 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.) ces ERNST CONSULTING Statement of Cash Flows For Month Ended October 31 Cash flows from operating activities Cash received from customers $