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8 ! Part 1 of 3 Required information [ The following information applies to the questions displayed below. ] On December 1 , Jasmin Ernst

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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 $85,460 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.
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\table[[Cash,$6,650,Cash dividends,$3,490
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