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 $84,000 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 Accounts payable Owner investments $11,360 14,000 3,250 46,000 18,000 8,500 84,000 Cash withdrawala by owner Consulting revenue Rent axpense Salaries expense Telephone expense Miscellaneous expenses $ 2,000 14,000 3,550 7.000 760 580 Using the above information prepare an October statement of owner's equity for Ernst Consulting ERNST CONSULTING Statement of Owner's Equlty $ 0 Ernst Capital, Oct 1 Add: Net income 2,110 2.110 2,000 Less: Withdrawals by owner Emst. Capital, Oct. 31