On October 1, Keisha King organized Real Answers, a new eonsulting firm; on October 3, the owner con¬ tributed $84,000 cash. On October 31, the company’s records show the following items and amounts. Use this information to prepare an October income statement for the business.

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Cash....... $11,360 Cash withdrawals by owner. $ 2,000 Accounts receivable 14,000 Consulting fees earned. 14,000 Office supplies 3,250 Rent expense 3,550 Land. 46,000 Salaries expense 7.000 Office equipment 18,000 Telephone expense. 760 Accounts payable. 8,500 Miscellaneous expenses 580 Owner investments. 84,000