[The following information applies to the questions displayed below) On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $84,470 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, Retained earnings, October 1 as $0. Cash $ 9,750 Cash dividends Accounts receivable 15,620 Consulting revenue Office supplies 3,710 Rent expense Land 45,970 Salaries expense Office equipment 18,450 Telephone expense Accounts payable 8.900 Miscellaneous expenses Common stock 84,470 $ 2,530 15,620 4,070 7,450 810 630 Using the above information prepare an October income statement for the business ERNST CONSULTING Income Statement For Month Ended October 31 Revenues 20 # 3 $ 4 % 5 & 7 vo 2 8 W E R U