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 $84,470 in as5ets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts Exercise 1.19 (Algo) Preparing a statement of retained earnings LO P2 Using the above information prepare a December stotement of retained earnings for Emst Consulting Hint Retained Earnings on December 1 was $0