[The following information applies to the questions displayed below.]

On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,850 in assets in exchange for its common stock to launch the business. On October 31, the companys records show the following items and amounts.

Cash	$	11,580		Cash dividends	$	1,890
Accounts receivable		14,000		Consulting revenue		14,000
Office supplies		3,140		Rent expense		3,390
Land		46,000		Salaries expense		6,860
Office equipment		17,820		Telephone expense		880
Accounts payable		8,400		Miscellaneous expenses		690
Common Stock		83,850

Using the above information prepare an October income statement for the business.