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 companys records show the following items and amounts.

Cash	$ 15,200	Cash withdrawals by owner	$ 460
Accounts receivable	12,410	Consulting revenue	12,410
Office supplies	1,770	Rent expense	2,140
Land	46,080	Salaries expense	5,300
Office equipment	16,450	Telephone expense	750
Accounts payable	6,060	Miscellaneous expenses	560
Owner investments	82,650

Using the above information prepare a December statement of owner's equity for Ernst Consulting. Hint: J. Ernst, Capital on December 1 was $0.