On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,540 in assets to launch the business. On December 31, the companys records show the following items and amounts. Cash $ 12,650 Cash withdrawals by owner $ 1,570 Accounts receivable 13,520 Consulting revenue 13,520 Office supplies 2,850 Rent expense 3,110 Land 45,940 Salaries expense 6,490 Office equipment 17,530 Telephone expense 850 Accounts payable 8,110 Miscellaneous expenses 660 Owner investments 83,540

Some answers are right and some are wrong.

\begin{tabular}{|l|r|r|} \hline Net cash provided by investing activities & & 17,530 \\ \hline Cash flows from financing activities & & \\ \hline Cash investments by owner & 83,540 & \\ \hline Cash withdrawals by owner & 1,570 & \\ \hline Net cash provided by financing activities & & 85,110 \\ \hline Net increase in cash & & 96,410 \\ \hline Cash balance, December 1 & & 0 \\ \hline Cash balance, December 31 & & $6,410 \\ \hline \end{tabular}