On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $82,650 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 460 $15, 200 10,000 1,770 Accounts receivable Office supplies Land Cash dividends Consulting revenue Rent expense 10,000 2, 140 Salaries expense 46, 080 16, 450 5, 300 750 Telephone expense Office equipment Accounts payable Common Stock Miscellaneous expenses 560 6, 060 82, 650 Using the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement As of October 31 Revenues Consulting revenue 0