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 $$85,360$ in assets in exchange for its common stock to launch the business. On December $31,$ the company's records show the following item and amounts.

$\backslash$table$[[,$$$7,010,$Cash dividends,$3,390],[$Cash$,18,350,$Consulting revenue,$18,350],[$Accounts receivable,$4,480,$Rent expense,$4,820],[$Office supplies,$19,360,$Salaries expense,$8,370],[$Office equipment,$46,040,$Telephone expense,$910],[$Land$,9,740,$Miscellaneous expenses,$720],[$Accounts payable,$85,360,,],[$Common stock,,,$]]$

Exercise $1-18($Algo$)$ Preparing an income statement LO P$2$

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

$\backslash$table$[[$ERNST CONSULTING,$],[$Income Statement,$],[,,],[,,],[,,],[,,],[,,]]$