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 $83,540 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 $12,650 13,520 2,850 Rent expense Cash dividends Consulting revenue $1,570 13,520 3,110 Land 45,940 Salaries expense 6,490 office equipment 17,530 Telephone expense 850 Accounts payable 8,110 Miscellaneous expenses 660 Common stock 83,540