ory Bookmarks Window Help % 100% newconnect.mheducation.com Ey Aldon MyEPCC Sign In Chapter 01 Practice Problem Practice Problem Saved Help Save & Exit Check Required information The following information applies to the questions displayed below) On October 1, Ebony Erst organized Ernst Consulting: on October 3, the owner contributed $83.390 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 Accounts receivable office supplies Land Office equipment Accounts payable Common stock $13,210 Cash dividends 13,320 Consulting revenue 2,720 Rent expense 45,910 Salaries expense 17,350 Telephone expense 7.970 Miscellaneous expenses 83,390 $ 1,460 13,320 2.950 6,290 830 640 Using the above information prepare an October 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet