On December 1, Jasmin Ernst organized Ernst Consulting, On December 3, the owner contributed $83,390 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 $ 13, 210 Cash dividends 13,320 Consulting revenue 2,720 Rent expense 17,350 Salaries expense 45,910 Telephone expense 7.970 Miscellaneous expenses 83,300 $ 1,400 13,320 2,950 0,290 830 040 Exercise 1-18 (Algo) Preparing an income statement LO P2 Using the above information prepare a December income statement for the business, ERNST CONSULTING Income Statement 0 Net income