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Requlred Information [The following information applies to the questions displayed below.] On...

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Accounting

Requlred Information
[The following information applies to the questions displayed below.]
On December 1. Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,200 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.
Cash
Accounts receivable
office supplies
office equipment
Land
Accounts payable
Common stock
$ 10,710 Cash dividends
18,170 Rent expense
46,630 Salaries expense
8,630 Miscellaneous expenses
84,200
$2,180
14,600
3,750
7,160
780
600
Using the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings December 1 was $0.
\table[[ERNST CON SULTING],[Statement of Retained Earning],[Retained earnings, December 1,$
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