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