On October 1, Natalie King organized Real Solutions, a new consulting firm. On October 31, the company’s records show the following items and amounts. Use this information to prepare an October income statement for the business.

Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,000

Cash withdrawals by owner . . . . . . . . . $ 3,360

Accounts receivable . . . . . . . . . . . . . . . . 13,000

Consulting fees earned . . . . . . . . . . . . . 15,000

Office supplies . . . . . . . . . . . . . . . . . . . . 4,250

Rent expense . . . . . . . . . . . . . . . . . . . . . . 2,550

Land . . . . . . . . . . . . . . . . . . . . . . . . . . . 36,000

Salaries expense . . . . . . . . . . . . . . . . . . . 6,000

Office equipment . . . . . . . . . . . . . . . . . 28,000

Telephone expense . . . . . . . . . . . . . . . . . . . 660

Accounts payable . . . . . . . . . . . . . . . . . . . 7,500

Miscellaneous expenses . . . . . . . . . . . . . . . 680

Owner investments . . . . . . . . . . . . . . . . . 74,000