Problem Solving Assignment - Chapter 1 (i 6252F%252F... Saved Requirea intormation 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 $83,110 in 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 5) $ 14,550 Cash withdrawals by owner 12,940 Consulting revenue 2,400 Rent expense 45,860 Salaries expense 17,020 Telephone expense 7,820 Miscellaneous expenses 83, 110 $ 1,120 12,940 2,640 5,920 809 620 Exercise 1-20 (Algo) Preparing a balance sheet LO P2 Use the above information to prepare a December 31 balance sheet for Ernst Consulting Exercise 1-20 (Algo) Preparing a balance sheet LO P2 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet