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Required information

$[$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 items and amounts.

$\backslash$table$[[$Cash$,$$$11,360,$Cash dividends,$2,000],[$Accounts receivable,$14,000,$Consulting revenue,$14,000],[$Office supplies,$3,250,$Rent expense,$3,550],[$Office equipment,$18,000,$Salaries expense,$7,000],[$Land$,46,000,$Telephone expense,$760],[$Accounts payable,$8,500,$Miscellaneous expenses,$580],[$Common stock,$84,000,,]]$

Using the above information prepare a December statement of retained earnings for Ernst Consulting. Hint. Retained farnings on December $1$ was $$0.$

$\backslash$table$[[$ERNST CONSULTING$],[$Statement of Retained Earnings$],[],[$Retained earnings, December $1,$$