Question: please answer question with provided information Required information [The following information applies to the questions displayed below) On October 1, Ebony Ernst organized Ernst Consulting;
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 $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. Retained earnings. October 1 as $0. Cash Accounts receivable office supplies Land office equipment Accounts payable Common stock $14,890 12,820 2,290 45.960 16.900 7,670 83,010 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 930 12,820 2,530 5,780 790 610 Using the above information prepare an October statement of retained earnings for Ernst Consulting ERNST CONSULTING Statement of Retained Earnings $ Retained earnings, October 1 Add: Net Income Less: Dividends Retained earnings, October 31 $ 0
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