$[$The following information applies to the questions

On December $1,$ Jasmin Ernst organized Ernst Consulting. On December $3,$ the owner contributed $$83,220$ 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

$ $13,840$ Cash dividends

$13,140$ Consulting revenue

$2,530$ Rent expense

$17,200$ Salaries expense

$45,840$ Telephone expense

$7,810$ Miscellaneous expenses

$83,220$ $$1,280$

$13,140$

$2,770$

$6,120$

$820$

$630$

Using the above information prepare a December income statement for the business.

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