Savo Help Save & ! 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 $84,920 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 $ 8,450 16,950 4,080 46,020 18,860 9,280 84,920 Caah dividende Consulting revenue Rent expenso Salarios expense Telephone expense Miscellaneous expenses $ 2,930 16,950 4,420 7,900 860 680 Using the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement For Month Ended October 31 Revenues Consulting revenue $ 16,950 Total revenues $ 16,950 Ront expense Salaries expense 4.420 7.900