Question: Says my answer is not complete. Dont know what is missing. . On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner
. On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,850 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 $11,580 13,860 3,140 46,000 17,820 8,400 83,850 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 1,890 13,860 3,390 6,860 880 690 Exercise 1-17 Preparing a balance sheet LO P2 Using the above information prepare an October 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet Assets $ 8,400 Cash Accounts receivable 8,400 Land Office equipment Office supplies Liabilities $ 11,580 Accounts payable 13,860 46,000 Total liabilities 17.820 Equity 3,140 Common stock Retained earnings Total equity $ 92,400 Total liabilities and equity 83,850 150 84,000 92,400 Total assets $
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