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Check my work Required information (The following information applies to the questions displayed below) On December 1, Jasmin Ernst organized Ernst Consulting On December 3, the owner contributed 583,010 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 Cash Mecounts receivable office wopplier orice got Land Necounts payable Common stock $ 14,050 cash dividends 12,120 Consulting revenue 2,290 Nent expense 16,960 salaries expense 49.960 Telephone expense 7,670 Miscellaneous expenses 63,010 3.930 12,620 2,530 5.780 790 Also assume the following: a. The owner's initial investment consists of $37.050 cash and $45,960 in land in exchange for its common stock b. The company's $16,900 equipment purchase is paid in cash c. Cash paid to employees is $400. The accounts payable balance of $7670 consists of the $2.290 office supplies purchase and $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 (Cash outflows should be indicated by a minus sign) LINDI GUNSULTING Statement of Cash Flows For Month Ended December 31 Cash flows from operating activities Cash received from customers $ 0 $ Cash flows from investing activities Cash flows from financing activities 0 Cash balance, December 1 Cash balance, December 31 5