Required information Use the following information for the Exercises below. (Algo) The following information applies fo the questions displayed below] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,050 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. Exercise 1-20 (Algo) Preparing a balance sheet LO P2 Use the above information to prepote a December 31 balance sheet for Emst Consulting