Exercise 1-15 Preparing an income statement L0 P2 Using the above information prepare an October income statement for the business. Exercise 1-16 Preparing a statement of owner's equity L0 P2 Using the above information prepare an October statement of owner's equity for Ernst Consulting. Exercise 1-17 Preparing a balance sheet LO P2 Using the above information prepare an October 31 balance sheet for Ernst Consulting. Exercise 1-18 Preparing a statement of cash ows LO P2 Also assume the following: a. The owner's initial investment consists of $38,500 cash and $45,970 in land. b. The company's $18,450 equipment purchase is paid in cash. c. The accounts payable balance of $8,900 consists of the $3,710 office supplies purchase and $5,190 in employee salaries yet to be paid