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 $83,850 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 $ 11,580 Cash dividends 13,860 Consulting revenue 3,140 Rent expense 17,820 Salaries expense 46,000 Telephone expense 8,400 Miscellaneous expenses 83,850 $ 1,890 13,860 3,390 6,860 880 690 ces 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