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 $82,890 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. Cash Accounts receivable Office supplies Office equipment Land $ 15,140 Cash dividends 12,720 Consulting revenue 2,110 Rent expense 16,780 Salaries expense 46,010 Telephone expense Accounts payable. 7,360 Common stock 82,890 Miscellaneous expenses $ 830 12,720 2,380. 5,620 780 600