This is all just one question with three parts ( Please don't leave out any info ill be sure to thumbs up)

PART I:

PART II:

PART III:

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 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 $ 9,75Cash dividends 15,620 Consulting revenue 3,710 Rent expense 18,452 salaries expense 45,970 Telephone expense 8,90 Miscellaneous expenses 84,470 $ 2,530 15,620 4,070 7,450 810 630 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 0 Net income Exercise 1-19 (Algo) Preparing a statement of retained earnings LO P2 Using the above Information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings on December 1 was $0. ERNST CONSULTING Statement of Retained Earning Retained earnings, December 1 S 0 0 S 0 Exercise 1-20 (Algo) Preparing a balance sheet LO P2 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet 0 0 S 0 S 0