On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,890 in assets in exchange for its common stock to launch the business. On December 31, the companys records show the following items and amounts.

Cash $ 15,140

Cash dividends $ 830

Accounts receivable 12,720

Consulting revenue 12,720

Office supplies 2,110

Rent expense 2,380

Office equipment 16,780

Salaries expense 5,620

Land 46,010

Telephone expense 780

Accounts payable 7,360

Miscellaneous expenses 600

Common stock 82,890

(Using the above information prepare a December income statement for the business.)