Required information Use the following information for exercise 15 to 18 LO P2 [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. Retained earnings. October 1 as $0. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common stock $ 9,390 16,020 3,830 45,980 18,550 9,860 84,580 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,650 16, eze 4,198 7,578 838 650 Exercise 1-16 Preparing a statement of retained earnings LO P2 Using the above Information prepare an October statement of retained earnings for Ernst Consulting ERNST CONSULTING Statement of Retained Earnings