The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting, on October 3, the owner contributed $84,580 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 Accounts receivable office supplies Land Office equipment Accounts payable Common Stock $ 9,390 16,eee 3,830 45,980 18,550 9,060 84,580 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,650 16. eee 4.190 7,57 832 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 For Month Ended October 31 Revenues Consulting revenue Telephone expense Expenses Miscellaneous expenses Rent expense Salaries expense Telephone expense Telephone expense Telephone expense Net loss