Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,780 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 $ 15,760 12,590 1,960 Cash dividends Consulting revenue Rent expense 16,580 Salaries expense 46,030 Telephone expense 7,250 Miscellaneous expenses 82,780 Exercise 1-18 (Algo) Preparing an income statement LO P2 Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement $ 640 12,590 2,270 5,450 760 580

Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,780 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. Exercise 1-18 (Algo) Preparing an income statement LO P2 Using the above information prepare a December income statement for the business