2 Part 20 Required information The following information applies to the questions displayed below) On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $84.000 in assets to launch the business. On October 31, the company's records show the following items and amounts. 10 points $11,360 14.000 Cash Accounts receivable office supplies Land office equipent Accounts payable Duner Investments Cash withdrawals by owner Consulting revenue Montpense Salaries expense Telephone expens Miscellaneous peases $ 2,000 14,000 >,550 7.000 111,000 8,500 04.000 500 Using the above information prepare an October statement of owner's equity for Emst Consulting Telephone expense Miscellaneous expenses 2 18,000 8,500 84,000 Office equipment Accounts payable Owner investments art 2 of 3 Using the above information prepare an October statement of owner's e & Answer is not complete. pints ERNST CONSULTING Statement of Owner's Equity For Month Ended October 31 Ernst, Capital, Oct. 1 Add: Net income Add Owner's investment 0 84,000 84,000 2,000 Less: Withdrawals by owner Erst, Capital, Oct 31