Cells highlighted in green contain a drop-down list, select the appropriate account/response from the list. When the calculation for Net Income (loss) is correct, the cell will change to yellow On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $84,000 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: Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common Stock 18,000 8,500 84,000 Using the above information prepare an October income statement for the business. Revenue: Total revenues Expenses: $11,360 14,000 3,250 46,000 Total expenses Net Income (loss) Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses Ernst Consulting Income Statement $2,000 14,000 3,550 7,000 760 580

On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,000 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 Using the above information prepare an October income statement for the business