of 3 Dok wit Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85.050 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 office equipment Land Accounts payable Common stock $7,950 Cash dividends 17,458 Consulting revenue 4,200 Rent expense 19,060 Salaries expense 46,010 Telephone expense 9,430 Miscellaneous expenses 85,050 $ 3,070 17,450 4,530. 8,090 880 690 ences Exercise 1-19 (Algo) Preparing a statement of retained earnings LO P2 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 As of December 31 Retained earnings, December 1 0 < Prev 2 3 of 3 Next > Q Search Exercise 1-19 (Algo) Preparing a statement of retained earnings LO P2 Using the above Information prepare a December statement of retained earnings for Ernst Consulting. Hint: December 1 was $0. ERNST CONSULTING Statement of Retained Earning As of December 31 Retained earnings, December 1 Add Net income Add Net loss $ 0 Less: Net loss Retained earnings, December 31 $ 0 Q Search < Prev 23 of 3 Next