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On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,780 in assets to launch the business. On December 31, the companys records show the following items and amounts.

Cash	$ 8,990	Cash withdrawals by owner	$ 2,830
Accounts receivable	16,540	Consulting revenue	16,540
Office supplies	3,930	Rent expense	4,300
Land	45,980	Salaries expense	7,740
Office equipment	18,660	Telephone expense	850
Accounts payable	9,170	Miscellaneous expenses	670
Owner investments	84,780

Using the above information prepare a December income statement for the business.