3 Part 1 of 4 1.66 points Required information [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,780 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies $ 8,990 Cash dividends Consulting revenue Salaries expense 16,540 3,930 Rent expense Office equipment 18,660 eBook Land 45,980 Telephone expense Accounts payable 9,170 Miscellaneous expenses Common stock 84,780 $ 2,830 16,540 4,300 7,740 850 670 Hint Print References Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement