Required information Use the following information for the exercise(s) below 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. Exercise 1-18 (Algo) Preparing an income statement LO P2 Using the above information prepare a December income statement for the business