Required information Use the following information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below.] Lawson Consulting, which began operations on December 1, had the following accounts and amounts on December 31. The I. Lawson, Capital account balance at December 1 was $0 and the owner invested $13,010 cash in the company on December 2. On December 31, the company's accounts and amounts for the month of December are shown in the table below: Cash Accounts receivable Equipment Accounts payable I. Lawson, Capital $ 5,500 I. Lawson, Withdrawals 4,600 Services revenue 6,600 Rent expense 3,090 Wages expense 13,010 $ 1,600 12,300 2,100 8,000 QS 2-17 (Algo) Preparing a balance sheet LO P1 Use the above information to prepare a December 31 balance sheet for Lawson Consulting. Hint: The ending I. Lawson, Capital account balance as of December 31 is $13,610. Assets: Cash Equipment Accounts receivable Answer is not complete. LAWSON CONSULTING Balance Sheet As of December 31 Liabilities: $ 5,500 Accounts payable $ 3,090 6,600 4,600 Equity: I. Lawson, Capital I. Lawson, Capital Total equity 16,700 11,410 2,200 13,610 $ 16,700