Required information [The following information applies to the questions displayed below.) On October 1, Ebony Ernst organized Ernst Consulting, on October 3. the owner contributed $85.460 in assets 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 Owner investments 6,650 Cash withdrawals by owner 15,520 Consulting revenue 4,640 Rent expense 46,000 salaries expense 19,560 Telephone expense 9,890 Miscellaneous expenses 85,460 3,490 15,520 4,920 8,500 890 700 Using the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,000 9,000 6,080 5,000 23,000 4,080 7,089 13,000 33,eee 22,eee 20,000 12,eee 8,000 es Note: Early in 2017, the owner invested $1,000 cash in the business. Required: Prepare the 2017 year-end income statement for Armani Company. ARMANI COMPANY Income Statement For Year Ended December 31, 2017 Revenues Total revenues Expenses Total expenses