Reference no: EM131573042

Question - On October 1, Natalie King organized Real Solutions, a new consulting firm. On October 31, the company's records show the following items and amounts.

Cash $ 2,000

Cash withdrawals by owner $ 3,360

Accounts receivable 13,000

Consulting fees earned 15,000

Office supplies 4,250

Rent expense 2,550

Land 36,000

Salaries expense 6,000

Office equipment 28,000

Telephone expense 660

Accounts payable 7,500

Miscellaneous expenses 680

Owner investments 74,000

Using the above information prepare an October income statement for the business.