-2, Week 1 Practice Exercises Help Save Use the following information for exercises 15 to 18 LO P2 The following information applies to the questions displayed below) On October 1, Ebony Ernst organized Ernst Consulting: on October 3. the owner contributed $83,010 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 Stock 14.898Cash dividends 11,eee Consulting revenue 2,290 Rent expense 45,960 Salaries expense 16,980 Telephone expense $ 930 11,8e0 2,530 5,788 790 610 7,670Miscellaneous expens 83,01e Exercise 1-15 Preparing an income statement LO P2 Using the above information prepare an October income statement for the business ERNST CONSULTING Income Statement For Month Ended October 31 Revenues