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 $84,580 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. of 3 Cash Accounts receivable office supplies Land office equipment Accounts payable Common Stock $ 9,390 16,000 3,830 45,980 18.550 9,060 84,580 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,650 16,000 4,190 7,570 830 650 Using the above information prepare an October 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet 0 $ 0 $ 0 Required information [The following information applies to the questions displayed below.] of 3 On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,580 exchange for its common stock to launch the business. On October 31, the company's records show th and amounts. Cash Accounts receivable office supplies Land office equipment Accounts payable Common Stock $ 9,390 16,000 3,830 45,980 18,550 9,060 84,580 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,650 16,000 4,190 7,570 830 650 Using the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement For Month Ended October 31 Revenues Consulting revenue $ 16,020 $ 16,020 Total revenues Expenses Salaries expense Rent expense Telephone expense Miscellaneous expenses 7,570 4,190 830 650 Total expenses Net Income $ 13,240 2,780 M Required information [The following information applies to the questions displayed below.] On October 1, Ebony Erst organized Ernst Consulting: on October 3, the owner contributed $84,580 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 Accounts receivable office supplies Land office equipment Accounts payable Common Stock $ 9,390 16,000 3,830 45,980 18,550 9,060 84,580 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,650 16,000 4,190 7,570 830 650 Using the above information prepare an October statement of retained earnings for Ernst Consulting. ERNST CONSULTING Statement of Retained Earnings S 0 Retained earnings, Oct 1 Add: Net income 2,780 2,780 2,650 130 Less: Dividends Retained earings, Oct. 31 S