Required Information [The following information applies to the questions displayed below) On October 1, Ebony Emst organized Ernst Consulting; on October 3, the owner contributed $84,470 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 $ 9, 750 15, tee 3, 710 Cash Accounts receivable Office Supplies Land Office equipment Accounts payable Conson Stock Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,530 15,600 4,070 7450 810 630 45,970 18,45 8.900 84,470 Using the above information prepare an October statement of retained earnings for Ernst Consulting, ERNST CONSULTING Statement of Retained Earnings 5 0 0