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Ernst Consulting Statement of Cash Flows For the Month Ended December 31, 20XX Cash Flows from Operating Activities: - Cash collected from consulting revenue: $0 - Cash paid to employees: -$1,450 - Cash paid for rent expense: -$3,210 - Cash paid for telephone expense: -$870 - Cash paid for miscellaneous expenses: -$680 - Cash dividends paid: -$1,760 Net Cash Flow from Operating Activities: -$7,970 Cash Flows from Investing Activities: - Purchase of office equipment: -$17,710 Net Cash Flow from Investing Activities: -$17,710 Cash Flows from Financing Activities: - Initial owner's investment (cash and land): +$83,660 Net Cash Flow from Financing Activities: +$83,660 Net Change in Cash: (-$7,970) + (-$17,710) + $83,660 = $58,980 Cash at the Beginning of December: $37,720 (initial cash investment) Cash at the End of December: $37,720 + $58,980 = $96,700