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ERNST CONSULTING Income Statement For Month Ended December 31 Equity Consulting revenue $ 13,140 I. $ 15,910 Total revenues Expenses Salaries expense Telephone expense Miscellaneous expenses 6,120 820 630 Total expenses Net income 7,570 2,800 $ ! Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,220 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 $ 13,840 Cash withdrawals by owner 13,140 Consulting revenue 2,530 Rent expense 45,840 Salaries expense 17,200 Telephone expense 7,810 Miscellaneous expenses 83,220 $ 1,280 13,140 2,779 6,129 829 630 Exercise 1-18 (Algo) Preparing an income statement LO P2 Using the above information prepare a December income statement for the business