List the errors you find in the following balance sheet. Prepare a corrected balance sheet.objs. 2,3 Assets

List the errors you find in the following balance sheet. Prepare a corrected balance sheet.objs. 2,3

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Assets Current assets: Eucalyptus Services Co. Balance Sheet For the Year Ended July 31, 2008 Liabilities Current liabilities: Cash $ 5,280 Accounts payable 6,790 Supplies 1,650 Prepaid insurance 4,800 Accounts receivable Accum. depr.-building Accum. depr.-equipment Net income Land 60,000 Total liabilities $ 13,750 86,700 18,480 25,000 $143,930 Total current assets $ 78,520. Property, plant, and Stockholders' Equity equipment: Wages payable $ 1,340 Building $156,700 Capital stock 55,000 Equipment 43,000 Retained earnings 116,870 Total property, plant, Total stockholders' equity 173,210 and equipmet Total assets 238,620 $317,140 Total liabilities and stockholders' equity $317,140