On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $85,160 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash Accounts receivable 15,160 Consulting revenue $ 7,520 Cash withdravals by owner 3,190 15,160 4,720 4,310 Rent expense 46,000 Salaries expense 19,190 Telephone expense 9,600 Miscellaneous expenses 85,160 Office supplies Land 8,220 900 710 office equipment Accounts payable owner investments Using the above information prepare an October 31 balance sheet for Ermst Consulting. ERNST CONSULTING Balance Sheet