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IE Exercise 1-19 (Algo): Preparing a statement of retained earnings LO P2 On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,220 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. Use this information to prepare a December statement of retained earnings for the business. Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. Using the information from the Question Data tab, prepare a December statement of retainec earnings for Ernst Consulting. Hint: Retained earnings on December 1 was $0