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 $83,660 in assets to launch the business. On December 31, the company's records show the following items and amounts. $ 12,040 Cash withdrawals by owner Cash Accounts receivable 13,720 Consulting revenue Office supplies 2,990 Rent expense Land 45,940 Office equipment 17,710 Telephone expense Accounts payable 8,230 Salaries expense Miscellaneous expenses Owner investments 83,660 $ 1,760 13,720 3,210 Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement 6,690 870 680