Required Information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below) On December 1, Jasmin Emst organized Emt Consulting. On December 3, the owner contributed $85360 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following tes and amounts Cash Accounts receivable Office supplies office pipment Land Accounts payable Con stack 1.7,120 Cash divi 17.95 Consulting revenue 19,190 Salaries expense 4,000 Telephone expense $3.1M 8,320 73 Exercise 1-19 (Algo) Preparing a statement of retained earnings LO P2 Using the above information prepare a December statement of retained earnings for Emmit Consulting Hint Retained Earnings on December 1 was $0. ERNST CONSULTING Statement if stained aming Retained eamings. December 1 S S Land 46,000 Telephone e Accounts paye Common stock 9,600 Miscellaneo 85,160 Exercise 1-19 (Algo) Preparing a statement of re Using the above information prepare a December statement December 1 was $0. ERNST CONSULTING Statement of Retained Earning Retained earnings, December 1 $ 0 0 Add: Dividends Add: Net income $ 0 Add: Net loss Exercise 1-19 (Algo) Premaring a statement of ret Using the above information prepare a December statement of December 1 was $0. ERNST CONSULTING Statement of Retained Earning Retained earnings, December 1 $ 0 0 Add: Dividends $ 0 Add: Net income Add: Net loss B Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] On December 1, Jasmin Ernst organized Emst Consulting. On December 3, the owner contributed $85360 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 $7,520 Cash dividends 17,950 Consulting reven 4,110 t expense $3,190 17,950) 4,726 19,196 Salaries opene 1,220 46,000 Telephone expense 500 Accounts payable Common stock 9,600 Miscellaneous expenses 710 office equipment Land 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 ERNST CONSULTING Statement of Retained Earning Retained earnings: December 1 $ Add: Dividends Add: Net income Add: Net loss