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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 $84,780 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 $ 2,830 $ 8,990 Cash dividends 16,540 Consulting revenue 3,930 Rent expense Accounts receivable office supplies office equipment Land 16,540 4,300 18,660 Salaries expense 45,980 Telephone expense 7,740 850 Accounts payable Common stock 9,170 Miscellaneous expenses 84,780 670 Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement