5 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 $83 540 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 Part 2 of 3 $ 1,576 13,520 Cash Accounts receivable Office Supplies Land Office equipment Accounts payable Common stock 3,110 $12,650 13,52e 2,850 45,940 17,530 8, 110 83,540 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses 6,490 850 660 Use the above information to prepare a December 31 balance sheet for Emst Consulting ERNST CONSULTING Balance Sheet December 31 $