4 ! Part 2 of 4 14.28 points Skipped eBook Hint Print 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 $82,650 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 $ 15,200 Accounts receivable Office supplies 12,410 1,770 Rent expense Office equipment Land 16,450 46,080 Accounts payable 6,060 Cash dividends Consulting revenue Salaries expense Telephone expense Miscellaneous expenses Common stock 82,650 $ 460 12,410 2,140 5,300 750 560 Using the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings on December 1 was $0. ERNST CONSULTING Statement of Retained Earning References Retained earnings, December 1 $ 0 $