! 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 $83,110 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 Accounts receivable $ 14,550 Cash dividends 12,940 Consulting revenue $1,120 12,940 Office supplies 2,400 Rent expense 2,640 Office equipment 17,020 Salaries expense 5,920 Land 45,860 Telephone expense 800 Accounts payable 7,820 Miscellaneous expenses 620 Common stock 83,110 Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement