Use the following information for exercises 15 to 18 LO P2 [The following information applies to the questions displayed belowj 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 company's records show the following items and amounts Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common Stoc $ 1,890 14,000 3,390 6,860 880 690 $11,580 Cash dividends 14,000 Consulting revenue 3,140 Rent expense 46,000 Salaries expense 17,820 Telephone expense 8,400 Miscellaneous expenses 83,850 Exercise 1-15 Preparing an income statement LO P2 Using the above information prepare an October income statement for the business