On October 1. Natalie King organized Real Solutions, a new consulting firm. On October 31, the com- pany's records show the following items and amounts. Use this information to prepare an October income statement for the business. Exercise 1-14 Preparing an income statement P2 Cash.. $ 2,000 Cash withdrawals by owner $ 3,360 Accounts receivable 13,000 Consulting fees earned 15,000 2.550 Office supplies. 4,250 Rent expense Land 36,000 Salaries expense 6,000 660 Office equipment 28,000 Telephone expense Accounts payable. 7,500 74,000 Miscellaneous expenses. Owner investments. 680 Use the information in Exercise 1-14 to prepare an October statement of owner's equity for Real Solutions. Use the information in Exercise 1-14 (if completed, you can also use your solution to Exercise 1-15) to prepare an October 31 balance sheet for Real Solutions. Check Net income, $5,110 Exercise 1-15 Preparing a statement of owner's equity P2 Exercise 1-16 Preparing a balance sheet P2