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On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,660 in assets to launch the business. On October 31, the

On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,660 in assets to launch the business. On October 31, the companys records show the following items and amounts.

Cash $ 12,040 Cash dividends $ 1,760
Accounts receivable 13,720 Consulting fees earned 13,720
Office supplies 2,990 Rent expense 3,210
Land 45,940 Salaries expense 6,690
Office equipment 17,710 Telephone expense 870
Accounts payable 8,230 Miscellaneous expenses 680
Common stock 83,660

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Using the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement

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