3 Check r [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting; on December 3, the owner contributed $85,160 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 $ 7,520 17,950 Cash dividends Consulting revenue $3,190 17,950 office supplies 4,310 Rent expense 4,720 Land 46,000 Salaries expense 8,220 ed office equipment 19,190 Telephone expense 900 Accounts payable 9,600 Miscellaneous expenses 710 Common stock 85,160 ok ht ences Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet