Exercise 1-15 On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed S84,000 in assets to launch the business. On October 31, the company's records show the following items and amounts. Use this information to prepare an October income statement for the business. ring an income state P2 $11.360 . .14,000 3,250 46,000 8,000 8,500 84,000 Cash Cash withdrawals by owner.... Consulting fees earned Rent expense Salaries expense Telephone expense 2,000 14,000 3,550 7,000 760 580 Accounts receivable Office supplies Office equipment Accounts payable Owner investments.... Check Net income, $2,110 Exercise 1-16 Use the information in Exercise -15 to prepare an October statement of owner's equity for Ernst Consulting aring a statement of er's equity P2 Use the information in Exercise 1-15 (if completed, you can also use your solution to Exercise 1-16) to prepare an October 31 balance sheet for Ernst Consulting Exercise 1-17 reparing a balance P2