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 $83,540 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 $ 12,650 Cash dividends 13,520 Consulting revenue 2,850 Rent expense 17,530 Salaries expense $1,570 13,520 3,110 6,490 850 Accounts payable Common stock 8,110 Miscellaneous expenses 660 83,540 Office equipment Land 45,940 Telephone expense nt ok 2 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 As of December 31 ences Total revenues + $ 13,520 0