A B C D G H I 3 M IN Q 3 On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,000 in 1 assets in exchange for its common stock to launch the business. On December 31, the company's records 4 show the following items and amounts 6 Cash 7 Accounts receivable 8 Office supplies 9 Office equipment 10 Land $11,360 14,000 3,250 18,000 46,000 11 Accounts payable 8,500 12 Common stock i 84,000 13 Cash dividends 2,000 14 Consulting revenue 14,000 15 Rent expense 3,550 16 Salaries expense 7,000 760 580 17 Telephone expense 18 Miscellaneous expenses 19 20 Required: 21 Using the above information prepare a December income statement for the business. 22 23 (Use cells A6 to 818 from the given information to complete this question. All formulas must return positive values.) 24 25 25 27 ERNST CONSULTING Income Statement Graded Worksheet