! 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. 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 Accounts payable 8,500 Miscellaneous expenses 580 Common stock 84,000 13 760 Using the above information prepare a December Income statement for the business. ERNST CONSULTING Income Statement ces 0