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 $82,650 in assets to launch the business On October 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land office equipment Accounts payable Owner Investments $15,200 12,410 1,270 46,080 16,450 6,060 32,650 Cash withdrawals by owner Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 460 12,410 2,140 5,300 750 56 Exercise 1-16 Preparing a statement of owner's equity LO P2 Using the above information prepare an October statement of owner's equity for Ernst Consulting. ERNST CONSULTING Statement of Owner's Equity 5 0