Required information Use the following information for the Exercises below. (Algo) Skip to question [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 companys records show the following items and amounts. Cash $ 11,580 Cash dividends $ 1,890 Accounts receivable 13,860 Consulting revenue 13,860 Office supplies 3,140 Rent expense 3,390 Office equipment 17,820 Salaries expense 6,860 Land 46,000 Telephone expense 880 Accounts payable 8,400 Miscellaneous expenses 690 Common stock 83,850 Exercise 1-18 (Algo) Preparing an income statement LO P2 Using