On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,660 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash $ 12,040 Cash withdrawals by owner $ 1,760 Accounts receivable 13,720 Consulting revenue 13,728 Office supplies 2,990 Rent expense 3,210 Land 45,940 Salaries expense 6,690 office equipment 17,710 Telephone expense Accounts payable 8,230 Miscellaneous expenses 680 Owner investments 83,660 870 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 Expenses So 8 10 of 10