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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

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On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,360 in assets in exchange for its common stock to launch the business. On December 31, the companys records show the following items and amounts.
\table[[Cash,$7,010 Cash dividends,$3,390
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