5 ! Part 3 of 4 1.66 points 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 Accounts receivable Cash dividends Consulting revenue $ 8,990 16,540 Office supplies 3,930 Rent expense Office equipment 18,660 eBook Land 45,980 Telephone expense Accounts payable 9,170 Miscellaneous expenses Common stock 84,780 Salaries expense $ 2,830 16,540 4,300 7,740 850 670 Hint Print References Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet