On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,540 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $ 12,650 Cash withdrawals by owner 13,520 Consulting revenue 2,850 Rent expense 45,940 Salaries expense 17,530 Telephone expense 8, 110 Miscellaneous expenses 83,540 $ 1,576 13,520 3, 110 6,490 85e 660 Exercise 1-18 (Algo) Preparing an income statement LO P2 Using the above information prepare a December income statement the business ERNST CONSULTING Income Statement