2 2 of 3 Book P Hint int D wences On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,920 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. Retained earnings, October 1 as $0. Cashi $ 8,450 Accounts receivable 16,950 Cash dividends Consulting revenue $2,930 16,950 Office supplies 4,080 Rent expense 4,420 Landi 46,020 Salaries expense 7,900 Office equipment 18,860 Telephone expense 860. Accounts payable 9,280 Miscellaneous expenses 680 Common stock 84,920 Exercise 1-16 Preparing a statement of retained earnings LO P2 Using the above information prepare an October statement of retained earnings for Ernst Consulting. ERNST CONSULTING Statement of Retained Earnings For Month Ended October 31 Retained earnings, October 1 $ Add: Net income Less: Dividends 0 Retained eamings, October 31 $ 0 Check my w