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 $82,780 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 $15,760 Cash dividends 640 Accounts receivable 10,600 Office supplies Consulting revenue Rent expense Salaries expense 10,600 2,270 5,450 1,960 46,030 16,580 7,250 82,780 Land office equipment Accounts payable Common Stock Telephone expense Miscellaneous expenses 760 580 Using the above information prepare an October 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet 0 0 $