Required information [The following information applies to the questions displayed below.] Lawson Consulting had the following accounts and amounts on December 31. Dividends Cash Accounts receivable Equipment Accounts payable Common stock $ 12,000 5,900 Services revenue. 7,900 Rent expense 4,260 Wages expense 19,640 $ 2,900 16,200 3,400 8,000 Use the above information to prepare a December 31 balance sheet for Lawson Consulting. Hint: The ending Retained Earnings account balance as of December 31 is $1,900. LAWSON CONSULTING Balance Sheet As of December 31 Assets: Cash Liabilities: $ 12,000 Accounts payable 4,260 Accounts receivable Equipment 5,900 7,900 Equity: 4,260 $ 25,800 Common stock Retained earnings 19,640 1,900 21,540 $ 25,800