Income statement

On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,000 in assets to launch the business. On December 31, the company's records show the following items and amounts. Use this information to prepare a December income statement for the business. Check Net income, $2,110 Exercise 1-19 Preparing a statement of owner's equity P2 Use the information in Exercise 1-18 to prepare a December statement of owner's equity for Ernst Consulting. Hint: J. Ernst, Capital, on December 1 was \$0. Exercise 1-20 Preparing a balance sheet P2 Use the information in Exercise 1-18 to prepare a December 31 balance sheet for Ernst Consulting. Hint: The solution to Exercise 1-19 can help