Problem Solving Saved Help Required information 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 $83,660 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. $ 1,760 13,800 3,210 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common Stock $12,040 13,800 2,990 45,940 17,710 8,230 83,660 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses 6,690 870 680 Exercise 1-16 Preparing a statement of retained earnings LO P2 Using the above information prepare an October statement of retained earnings for Ernst Consulting. ERNST CONSULTING Statement of Retained Earnings As of October 31 6 Next >