How to prepare a balance sheet using this information?

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 $83,660 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 $ 12,040 Cash withdrawals by owner 13,720 Consulting revenue 2,990 Rent expense 45,940 Salaries expense 17,710 Telephone expense 8,230 Miscellaneous expenses 83,660 $ 1,760 13,720 3,210 6,690 870 680 Answer is complete and correct. ERNST CONSULTING Income Statement For Month Ended December 31 Revenues Consulting revenue $ 13,720 Total revenues $ 13,720 Expenses Salaries expense Rent expense Telephone expense Miscellaneous expenses 6,690 3,210 870 680 Total expenses Net income 11,450 2,270 $ ERNST CONSULTING Statement of Owner's Equity $ 0 J. Ernst, Capital, December 1 Add: Net income Add: Investments by owner 2,270 83,660 85,930 (1,760) 84,170 Less: Withdrawals by owner J. Ernst, Capital, December 31 S Use the above information to prepare a December 31 balance sheet for Ernst Consulting ERNST CONSULTING Balance Sheet December 31 0 $ $ 0 $ $ 0