Required information Use the following information for exercise 18 to 21 LO P2 (Algo) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting, on December 3, the owner contributed $82,890 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 Land Office equipment Accounts payable Common stock $15, 140 12,720 2,110 46,010 16,780 7,360 82,890 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 830 12,720 2,380 5,620 780 600 Income Statement ERNST CONSULTING ' 6so An pdaid cn ec