! 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 $83,010 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. Cash Accounts receivable $14,890 12,820 Office supplies 2,290 Office equipment 16,900 Land 45,960 Accounts payable 7,670 Common stock 83,010 Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses $ 930 12,820 2,530 5,780 790 610 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet