Use Me TUIUWI MALIT TUIL CREILIUS DEUW. My The following information applies to the questions displayed below.) On December 1, Jasmin Ernst organized Ernst Consulting, On December 3, the owner contributed $83,390 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, 210 Cash dividends 13,320 Consulting revenue 2, 720 Rent expense 17,350 Salaries expense 45,910 Telephone expense 7,970 Miscellaneous expenses 83, 390 $ 1,460 13,320 2,950 6,290 830 640 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 so ERNST CONSULTING Statement of Retained Earning $ Retained earnings. December 1 Add: Net income 0 0 Less: Dividends $ 0