On October 1. Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $85,160 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. Retained earnings. October 1 as $0. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common stock $ 7,520 17,950 4,310 46,000 19,190 9,680 85,160 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 3,190 17,950 4,720 8,220 900 710 Using the above information prepare an October statement of retained earnings for Ernst Consulting ERNST CONSULTING Statement of Retained Earnings As of October 31 Retained earnings, October 1 $ Add: Net income 0 3.400 3,400 3,100 210 Lens Dividends Retained earnings, October 31