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 $84,920 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash $ 8,450 $ 2,930 Cash withdrawals by owner Consulting revenue 14,910 14,910 Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments 4,080 46,020 18, 860 Rent expense Salaries expense Telephone expense Miscellaneous expenses 4,420 7,900 860 9,280 680 84,920 Exercise 1-15 Preparing an income statement LO P2 Using the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement