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 $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 $ 13,210 Cash dividends $1,460 Accounts receivable 13,320 Consulting revenue 13,320 office supplies 2,720 Rent expense 2,950 Office equipment 17,350 Salaries expense 6,290 Land 45,910 Telephone expense 830 Accounts payable 7,970 Miscellaneous expenses 640 Common stock 83,390 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. Answer is not complete. ERNST CONSULTING Statement of Retained Earning 8 Next > Part 2 of 3 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. 6 points Answer is not complete. ERNST CONSULTING Statement of Retained Earning Retained earnings, December 11 s 0 Add Net loss Add Net income Less Dividends Salanes expense 00 00 0