> Saved Help Save & Exit Su Check my w Required information Use the following information for exercise 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. Retained earnings, October 1 as $0. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common stock $12,040 13, 720 2,990 45,940 17,710 8,230 83,660 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 2,760 13,720 3,210 6,690 870 680 Exercise 1-15 Preparing an income statement LO P2 Using the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement +