! Required information [The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,220 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. Retained earnings, October 1 as $0. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common stock $13,840 13, 140 2,530 45,840 17,200 7,810 83,220 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 1,280 13,140 2,770 6,120 820 630 Using the above information prepare an October income statement for the business. Using the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement