On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,110 in assets in exchange for its common stock to launch the business. On October 31, the companys records show the following items and amounts. Retained earnings, October 1 as $0.

Required information [The following information applies to the questions displayed below.) On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contra for its common stock to launch the business. On October 31, the company's records s amounts. Retained earnings, October 1 as $0. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common stock $14,550 Cash dividends 12,940 Consulting revenue 2,400 Rent expense 45,860 Salaries expense 17,020 Telephone expense 7,820 Miscellaneous expenses 83, 110 $ 1,120 12,940 2,640 5,920 800 620 Using the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement (Assets Liabilities Accounts payable Prey sing the above information prepare an October ince ERNST CONSULTING Income Statement Assets Liabilities Accounts payable o