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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 $82,650 in assets to launch the business. On December 31, the company's records show the following items and amounts Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $ 15,200 Cash withdrawals by owner 12,410 Consulting revenue 1,770 Rent expense 46,080 Salaries expense 16,450 Telephone expense 6,060 Miscellaneous expenses 82,650 $ 460 12,410 2,140 5,300 750 560 Using the above information prepare a December statement of owner's equity for Ernst Consulting. Hint J. Ernst, Capital on December 1 was $0. ERNST CONSULTING Statement of Owner's Equity $ 0 J. Emst, Capital, December 1 Add: Investments by owner Add: Withdrawals by owner 82,650 460 83, 110 $ 83,110