Required information [the following information applies to the questions displayed below.] on october 1, ebony ernst organized ernst consulting; on october 3, the owner contributed $83,220 in assets in exchange for its common stock to launch the business. on october 31, the company’s records show the following items and amounts. cash $ 13,840 cash dividends $ 1,280 accounts receivable 12,000 consulting revenue 12,000 office supplies 2,530 rent expense 2,770 land 45,840 salaries expense 6,120 office equipment 17,200 telephone expense 820 accounts payable 7,810 miscellaneous expenses 630 common stock 83,220 also assume the following: the owner’s initial investment consists of $37,380 cash and $45,840 in land in exchange for its common stock.. the company’s $17,200 equipment purchase is paid in cash. the accounts payable balance of $7,810 consists of the $2,530 office supplies purchase and $5,280 in employee salaries yet to be paid. the company’s rent, telephone, and miscellaneous expenses are paid in cash. no cash has been collected on the $12,000 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.)