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 $83,220 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. \begin{tabular}{|l|r|r|} \hline \multicolumn{1}{|c|}{ ERNST CONSULTING } \\ \hline & Income Statement \\ \hline Revenues & & \\ \hline Consulting revenue & & \\ \hline & & \\ \hline & & \\ \hline Total revenues & & \\ \hline Expenses & & \\ \hline Salaries expense & & \\ \hline Rent expense & & \\ \hline Telephone expense & & \\ \hline Miscellaneous expenses & & \\ \hline & & \\ \hline Total expenses & & \\ \hline Net income & & \\ \hline \end{tabular}