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 $82,890 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 Actounts payable Common stock $15, 140 12,720 2,110 46,010 16,780 7,360 82,890 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 830 12,720 2,380 5,620 780 500 Exercise 1-16 Preparing a statement of retained earnings LO P2 Using the above information prepare an October statement of retained earnings for Ernst Consulting, ERNST CONSULTING Statement of Retained Earnings 0 $ 0