Using the above information prepare a December Income statement for the business. ERNST CONSULTING Income Statement 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 $83,010 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 $ 14,890 Cash dividends 12,820 Consulting revenue 2,290 Rent expense 16,900 Salaries expense 45,960 Telephone expense 7,670 Miscellaneous expenses 83,010 $ 930 12,820 2,530 5,780 790 610