Lab Assignments Saved Help Save & Em Che [The following information applies to the questions displayed below] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $85,360 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash withdrawals by $ 3,390 $ 7,010 Cash Owner Consulting revenue Rent expense Salaries expense 15,360 4,820 8,370 Accounts receivable 15, 360 4,480 46,040 19,360 9,740 85,360 office supplies Land 910 Telephone expense Miscellaneous expenses office equipment Accounts payable Owner investments 720 25 Accounts payable Owner investments Check my work 9,/40 85,360 M1Scellaneous expenses 20 Part 4 of 4 Also assume the following: a. The owner's initial investment consists of $39,320 cash and $46,040 in land. b. The company's $19,360 equipment purchase is paid in cash. c. The accounts payable balance of $9,740 consists of the $4,480 office supplies purchase and $5,260 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 $15,360 consulting fees earned 25 oints eBook Using the above information prepare an October 31 statement of cash flows for Ernst Consulting. (Cesh outflows should be indiceted by a minus sign.) Hint Print References ERNST CONSULTING Statement of Cash Flows For Month Ended October 31 Cash flows from operating activities C Cash received from customers Next of 25 25 Drov