mework 1 Saved Help Sa Required information [The following information applies to the questions displayed below.] On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,580 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. Retained earnings, October 1 as $0. Cash $ 9,390 Cash dividends $ 2, 650 Accounts receivable 16, 020 Consulting revenue 16, 020 Office supplies 3,830 Rent expense 4, 190 Land 45, 980 Salaries expense 7,570 Office equipment 18,550 Telephone expense 830 Accounts payable 9, 060 Miscellaneous expenses 650 Common stock 84,580 Using the above information prepare an October 31 balance sheet for Ernst Consulting. ences ERNST CONSULTINGHelp Save & Exit Submit On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,580 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. Retained earnings, October 1 as $0. Cash $ 9,390 Cash dividends $ 2, 650 Accounts receivable 16, 020 Consulting revenue 16, 020 Office supplies 3,830 Rent expense 4, 190 Land 45 , 980 Salaries expense 7, 570 Office equipment 18,550 Telephone expense 830 Accounts payable 9 , 060 Miscellaneous expenses 650 Common stock 84, 580 Using the above information prepare an October 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet Liabilities Assets $ 9,060 9,300 Accounts payable Cash $ 16 020