2. On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,580 in assets in exchange for its common stock to launch the business. On October 31, the companys records show the following items and amounts.

Cash	$	9,390		Cash dividends	$	2,650
Accounts receivable		16,000		Consulting revenue		16,000
Office supplies		3,830		Rent expense		4,190
Land		45,980		Salaries expense		7,570
Office equipment		18,550		Telephone expense		830
Accounts payable		9,060		Miscellaneous expenses		650
Common Stock		84,580

Using the above information prepare an October income statement for the business.