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 withdrawals by owner Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,000 14,000 3,550 7,000 760 580 ERNST CONSULTING Balance Sheet As of October 31 Assets Liabilities Accounts payable 8,500 $ 11,360 46,000 3,250 18,000 14.000 8,500 Cash Land Office supplies Office equipment Accounts receivable Equity Ernst Capital 84.110 $ 92.610 92,610