pter 1 Practice Exercises Required Information Use the following information for exercises 15 to 18 LO P2 The following information applies to the questions displayed below. On October 1, Ebony Ernst organized Ernst Consutingien ober 3 thener contributed $82,780 in assets in exchange for its common stock to launch the baisiness un October .1, the company's records show the following items and amounts. 15,760 Cash vends 640 10,600 2,270 S, 450 Accoants receivable office supplies 10,600 Comsalting sean 1,960 ent expense 46,030 Salaries expense 16,580 elephone expense 7,250 Miscellaneous expenees Office equipment hecounta payable Exercise 1-18 Preparing a statement of cash flows LO P2 Also assume the following a. The owners initial investment consists of $36750 cash and $46,030 in land in exchange for its common stock. b. The company's $16,580 equipment purchase is paid in cash c. The accounts psyable balance of $7250 consists of the $1960 office supplies purchase and $5,290 in employee salaries yet to be d. The company's rent, telephone, and miscelaneous expenses are paid in cash has been collected on the $10,600 consulting fees eerned. Prev MacBook Air 0 2 3 4 5 0