O Hello Seve 4 On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $85.460 in sesin exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. Retained earnings, October 1 as $0. Part 2 of 4 Cash Accounts receivable office supplies Land office equipment Accounts payable Common stock $ 6,650 18,650 4,640 46,000 19,560 9,890 85,460 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 3,490 18,650 4.920 8.500 890 700 10 points Using the above information prepare an October statement of retained earnings for Ernst Consulting. ERNST CONSULTING Statement of Retained Earnings For Month Ended October 31 $ Retained earnings, October 1 Add: Net income 18,650 3,640 22,290 3,490 18,800 Less: Dividends $ Retained earnings, October 31 O Hello Seve 4 On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $85.460 in sesin exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. Retained earnings, October 1 as $0. Part 2 of 4 Cash Accounts receivable office supplies Land office equipment Accounts payable Common stock $ 6,650 18,650 4,640 46,000 19,560 9,890 85,460 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 3,490 18,650 4.920 8.500 890 700 10 points Using the above information prepare an October statement of retained earnings for Ernst Consulting. ERNST CONSULTING Statement of Retained Earnings For Month Ended October 31 $ Retained earnings, October 1 Add: Net income 18,650 3,640 22,290 3,490 18,800 Less: Dividends $ Retained earnings, October 31