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 $84,310 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 Office supplies Office equipment Land Accounts payable Common stock $ 10,200 Cash dividends 15,200 3,550 Consulting revenue Rent expense 18,310 Salaries expense 45,990 Telephone expense 8,740 Miscellaneous expenses 84,310 Using the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings on December 1 was $0. ERNST CONSULTING Statement of Retained Earning Retained earnings, December 1 $ $ 2,340 15, 200 3,910 7,350 790 610 0

Required information [The following information applies to the questions displayod below] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,310 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. sing the above information prepare a December statement of retained earnings for Ernst Consulting. Hint Retained Earnings on ecember 1 was $0. 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 $84,310 in assets in exchange for its common stock to launch the business. On December 31 , the company's records show the following items and amount5. ing the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings on cember 1 was $0