1. My Assets are not equal to my liabilities and stockholders' equity. What I'm missing from the basic accounting equation?

Assets = Liabilitis + Stockholders' Equity

The total of my assets are: $158,500. However, my liabilities and stockholders' equity gives me $133,500 and I don't know why. Please advise.

Ag Bio Tech (ABT) was organized on January 1 by four friends. Each organizer invested $6,875 in the company and, in turn, was issued 5,500 shares of common stock. To date, they are the only stockholders During the first month (January), the company had the following five events a. Collected a total of $27,500 from the organizers and, in turn, issued the shares of stock b. Purchased a building for $98,750, equipment for $16,250, and three acres of land for $28,750; paid $12,750 in cash and signed a note for the balance, which is due to be paid in 15 years c. One stockholder reported to the company that 350 shares of his ABT stock had been sold and transferred to another stockholder for $3,500 cash. d. Purchased supplies for $7,800 cash. e. Sold one acre of land for $10,300 cash to another company Required 2. During the first month, the records of the company were inadequate. You were asked to prepare a summary of the preceding transactions. To develop a quick assessment of their economic effects on ABT, complete the spreadsheet that follows. (Enter any decreases to account balances with a minus sign.) Assets LiabilitiesStockholders' Equity Common Retained Earnings Notes Payable Cash Supplies Land Building Equipment Stock Beg 27,500 27,500 (12,750) 28,75098,750 16,250 131,000 (7,800) 10,300 17,250 7,800 (10,300) 7,800 8,450 98,750 End 16,250 131,000 27,500