Erin Danielle, the bookkeeper for New York Company, has been trying to get the balance sheet to balance. The company’s balance sheet is shown below.

New York Company Balance Sheet me) and alow \V/ Ke) aid ave =f polio pl BY -\er=) 0g] o]=) aio PAO Ls Assets Liabilities Equipment $22,500 Common stock $23,000 Cash 9,000 Accounts receivable (6,000)
Supplies 2,000 Retained earnings (2,000)
Accounts payable (8,000) Notes payable 10,500 $25,500 $25,500 Instructions Explain to Erin Danielle in a memo why the original balance sheet is incorrect, and what should be done to correct it.
Ethics Case