Use the following information for exercises 15 to 18 LOP2 (The following information applies to the questions displayed below) On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,000 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 $11,368 Cash dividends Accounts receivable 14,000 Consulting revenue Office supplies 3,250 Rent expense Land 46,000 Salaries expense Office equipment 18,000 Telephone expense Accounts payable 8,500 Miscellaneous expenses Common Stock 84,000 $ 2,000 14,000 3,550 7,000 760 580 Exercise 1-16 Preparing a statement of retained earnings LO P2 Using the above information prepare an October statement of retained earnings for Ernst Consulting. ERNST CONSULTING Statement of Retained Earnings $ 0 0 [The following information applies to the questions displayed below) On October 1, Ebony Ernst organized Emst Consulting: on October 3, the owner contributed $84.000 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 $11,360 Accounts receivable 14,000 office supplies 3,250 Land 46,000 office equipment 18,000 Accounts payable 8,500 Common Stock 84,000 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,000 14,000 3,550 7,000 760 580 Exercise 1-17 Preparing a balance sheet LO P2 Using the above information prepare an October 31 balance sheet for Ernst Consulting ERNST CONSULTING Balance Sheet 0 $ $ 0