Photos - 2022-04-28 (7).png 1 Part 1 of 4 - 88F Sunny Required information [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,920 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 $ 8,450 Cash dividends $ 2,930 Accounts receivable 16,950 Consulting revenue 16,950 4,080 Rent expense 4,420 Office supplies Office equipment Land 18,860 Salaries expense 46,020 Telephone expense 7,900 860 Accounts payable 680 9,280 Miscellaneous expenses 84,920 Common stock Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement 100% Fullscreen 3:35 PM 4/28/2022