[The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $85,050 in assets to launch the business. On October 31, the company's records show the following items and amounts. Cash $ 7, 950 Cash withdrawals by owner $ 3, 070 Accounts receivable 15, 040 Consulting revenue 15, 040 Office supplies 4, 200 Rent expense 4, 530 Land 46, 010 Salaries expense 8, 090 Office equipment 19, 060 Telephone expense 880 Accounts payable 9, 430 Miscellaneous expenses 690 Owner investments 85, 050 Using the above information prepare an October income statement for the business