Required information Use the following Information for exercises 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 in exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. Cash $15, 200 Cash dividends Accounts receivable Office supplies Land Office equipment Accounts payable Common Stock $460 10, 000 2, 140 5, 300 750 560 10,000 Consulting revenue 1,770 Rent expense 46,080 Salaries expense 16 450 Telephone expense 6, 060 Miscellaneous expenses 82, 650 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