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On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $83,010 in assets to launch the business. On October 31, the companys records show the following items and amounts. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $14, 890 Cash withdrawals by owner 930 12, 820 2,530 5, 780 790 12, 820 Consulting revenue 2,290 Rent expense 45,960 Salaries expense 16,900 Telephone expense 7,670 Miscellaneous expenses 83, 010Using the above information prepare an October income statement for the business ERNST CONSULTING Income Statement

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ERNST CONSULTING
             Income Statement
For The Month Ended October 31
Revenues
Consulting fees earned 12,820
Total revenues 12,820
Expenses:
Salaries expense 5,780
Rent expense 2,530
Telephone expense 790
Miscellaneous expense 610
Total expenses 9,710
Net income 3,110
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