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 $85,050 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 $ 7,950 15,840 4,200 46,010 19,860 9,430 85,050 Cash withdrawals by owner Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 3,070 15,840 4,530 8,090 880 690 Using the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement Using the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement $ 1 Total revenues $ 0