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[The following information applies to the questions displayed below.] On December 1, Jasmin Emst organized Ernst Consulting. On December 3, the owner contributed $84,580 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. sing the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings on ecember 1 was $0. Using the above information prepare a December statement of retained earnings for Emst Consulting. Hint Retained Earnings on December 1 was $0