Required informatio [The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $85,160 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 $3,190 18,000 4,720 8,220 900 710 $7,520 Cash dividends Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common Stock 18,000 Consulting revenue 4,310 Rent expense 46,000 Salaries expense 19,190 Telephone expense 9,600 Miscellaneous expenses 85,160 Using the above information prepare an October income statement for the business. Income Statement Revenues Consulting revenue $ 18,000 Cash 7,520 Total revenues $ 25,520 Expenses 08,220 4,720 Salaries expense Rent expense Telephone expense> Miscellaneous 900 expenses 14,550 $ 3,450 Total expenses Net income