! Required information Saved 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. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $9,390 Cash withdrawals by owner 16,020 Consulting revenue 3,830 Rent expense 45,988 Salaries expense 18,550 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