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 $84,310 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 $ 10,200 Cash withdrawals by owner 15,200 Consulting revenue 3,550 Rent expense 45,990 Salaries expense 18,310 Telephone expense 8,740 Miscellaneous expenses 84,310 $ 2,340 15,200 3,910 7,350 790 610 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet