! 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 $83,390 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 $13,210 Cash dividends $ 1,460 Accounts receivable 12,300 Consulting revenue 12,300 Office supplies 2,720 Rent expense 2,950 Land 45,910 Salaries expense 6,290 Office equipment 17,350 Telephone expense 830 Accounts payable 7,970 Miscellaneous expenses 640 Common Stock 83,390 Using the above information prepare an October statement of retained earnings for Ernst Consulting. ERNST CONSULTING Statement of Retained Earnings $ 0 0