On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,010 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 Revenues Assets Liabilities Equity Revenues Total expenses $ 14,890 12,820 2,290 ERNST CONSULTING Income Statement $ Using the above information prepare a December income statement for the business. .... Cash withdrawals by owner Consulting revenue Rent expense 45,960 Salaries expense 16,900 Telephone expense 7,670 83,010 12,820 12,820 12,820 7,670 ~ Miscellaneous expenses $ 38,460 7,670 $ 930 12,820 2,530 5,780 790 610

On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,010 in assets to launch the business. On December 31 , the company's records show the following items and amounts. Using the above information prepare a December income statement for the business