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 $84,920 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 Exercise 1-18 (Algo) Preparing an income statement LO P2 Using the above information prepare a December income statement for the business