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Required information [The following information applies to the questions displayed below.] On October 1, Ebony Ernst organizeUsing the above information prepare an October income statement for the business. ERNST CONSULTING Income Statement

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Answer #1
ERNST CONSULTING
Income Statement
For Month Ended October 31
Revenues
Consulting revenue 12720
Total revenues 12720
Expenses
Salaries expense 5620
Rent expense 2380
Telephone expense 780
Miscellaneous expenses 600
Total expenses 9380
Net income 3340
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