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 $83,850 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 $11,580 13,860 3,140 46,000 17,820 8,400 83,850 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 1.890 13.860 3.390 6,860 88e Exercise 1-17 Preparing a balance sheet LO P2 Using the above information prepare an October 31 balance sheet for Ernst Consulting ERNST CONSULTING Balance Sheet