apter 2 Saved On October the business. On October 31, the company's records show the following items and amounts. 1 Ebony Ermst organized Ernst Consulting, on October 3, the owner contributed $84,000 in assets to launch Cash $11,360 Cash withdrawals by owner Accounts receivable 14,800 Consulting revenue office supplies Land Office equipment18,600 Telephone expense Accounts payable Owner investments 84,000 14,000 3,550 7,000 760 3,258 Rent expense 46,800 Salaries expense 8,500 Miscellaneous expenses 58 Using the above information prepare an October 31 balance sheet for Emst Consulting ERNST CONSULTING Balance Sheet As of October 31 Assets Liabilities Cash Land Office equipment Office supplies Accounts receivable S 11,360 46,000 18.000 3.250 14,000 payable 8,500 Equity Total assets 92,610 Total labilities and equity S 8500