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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