! Required information 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 $84,580 in assets to launch the business. On December 31, the company's records show the following items and amounts. $ 9,390 Cash withdrawals by owner 16,020 Consulting revenue Salaries expense 3,830 Rent expense Cash Accounts receivable Office supplies Land 45,980 Office equipment 18,550 Accounts payable Owner investments Telephone expense 9,060 Miscellaneous expenses 84,580 $ 2,650 16,020 4,190 7,570 830 650 Exercise 1-19 (Algo) Preparing a statement of owner's equity LO P2 Using the above information prepare a December statement of owner's equity for Ernst Consulting. Hint. J. Ernst, Capital on December 1 was $0. ERNST CONSULTING Statement of Owner's Equity J. Ernst, Capital, December 1 $ 0