Required Informatlon The following Information apples to the questions displayed below.j On October 1, Ebony Ernst organlzed 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. $ 8,990 Cash dividends 2,830 16,500 Cash Accounts receivable Office supplies Land Office equipment 18, 660 Telephone expense 16,500 Consulting revenue 4,300 7,740 850 3,930 Rent expense 45,980 Salaries expense Miscellaneous expenses ccounts payable 9,170 84,780 670 Common Stock Uslng the above Information prepare an October Income statement for the buslness. Answer is not complete ERNST CON SULTING Income Statement For Month Ended October 31 Revenues Consulting revenue 16,500 Total revenues $ 16,500 Telephone expense Salaries expense Rent expense Miscellaneous 850 7.740 4.300 870 Total expenses 13,560 Net income