! 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 $85,360 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 Cash $ 7,010 Accounts receivable 18,500 Office supplies 4,480 Land 46,040 Office equipment 19,360 Accounts payable 9,740 Common Stock 85,360 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 3,390 18,500 4,820 8,370 910 720 Using the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement