! 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 $84,920 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 $ 8,450 16,95 4,080 46,02e 18,860 9,280 84,920 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,93e 16,950 4,420 7,900 860 680 Using the above information prepare an October statement of retained earnings for Ernst Consulting. ERNST CONSULTING Statement of Retained Earnings 0 $ 0