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 $84,780 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. $ 8,990 16,540 3,930 45,980 18,660 9,170 84,780 Cash Cash dividends 2,830 16,540 Accounts receivable office supplies Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses 4,300 7,740 Land office equipment Accounts payable 850 670 Common stock 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