On October 1, Ebony Erst organized Ernst Consulting, on October 3, the owner contributed $84,000 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $11, 360 14,000 3,250 46,000 10,000 8,500 84,000 Cash withdrawals by owner Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses 5.2.ee 14,000 3,550 7,000 760 580 Exercise 1-17 Preparing a balance sheet LO P2 Using the above information prepare an October 31 balance sheet for Emst Consulting, ERNST CONSULTING Balance Sheet For Month Ended October 31 Assets 5 8.500 cash Accounts receivable Liabilities Accounts payable $ 11 360 14.000 25300 Assets Office equipment 34 710 Land 16.000 46.000 89 300 16