! 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 $83,110 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land Office equipment $ 14,550 Cash withdrawals by owner 12,940 2,400 Rent expense 45,860 17,020 Telephone expense $ 1,120 Consulting revenue 12,940 2,640 Salaries expense 5,920 800 Accounts payable Owner investments 7,820 Miscellaneous expenses 83,110 620 Using the above information prepare an October income statement for the business. Revenues ERNST CONSULTING Income Statement For Month Ended October 31 Cash withdrawals by owner Cash Rent expense Equity Cash withdrawals by owner Cash withdrawals by owner Miscellaneous expenses Accounts receivable Rent expense Cash withdrawals by owner Net income