Part 1 of 3 eBook Hint Required information Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,000 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following ite and amounts. Cash Accounts receivable Office supplies Office equipment Land Accounts payable Common stock $ 11,360 Cash dividends 14,000 Consulting revenue 3,250 Rent expense 18,000 Salaries expense 46,000 Telephone expense $ 2,000 14,000 3,550 7,000 8,500 Miscellaneous expenses 84,000 760 580 References Exercise 1-18 (Static) Preparing an income statement LO P2 Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement 0