Required information 3 of 3 Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,220 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 $13,840 Cash withdrawals by owner 13,140 Consulting revenue 2,530 Rent expense 45,040 Salaries expense 17,300 Telephone expense 7.810 Miscellaneous expenses 85,220 $1,200 13,140 2,770 6,120 820 630 Exercise 1-20 (Algo) Preparing a balance sheet LO P2 Use the above information to prepare a December 31 balance sheet for Ernst Consulting