a. Identify the errors contained within the presented financial statements for We-Sell Realty. 1. Which of the financial statement(s) display the correct heading? b3. Prepare a balance sheet as of August 31, 20Y7. We-Sell Realty Balance Sheet Accounts payable Owner's Equity Omar Farah, capital Total liabilities and owner's equity of operations: We-Sell Realty Income Statement August 31, 20 Y7 Sales commissions Expenses: Office salaries expense Rent expense Automobile expense Miscellaneous expense Supplies expense Total expenses Net income $140,000 $87,00018,0007,5002,2001,150 \begin{tabular}{l} $25,000(115,850) \\ \hline \end{tabular} Omar Farah Statement of Owner's Equity For the Year Ended August 31, 20 Y6 Omar Farah, capital, August 1, 20 Y7 Net income Withdrawals $025,000(10,000) This error also affects what other account balance? 5. What is the correct total for the total assets? $ 6. What is the correct total for the liabilities? $ Feedback Check My Work b. Prepare a corrected set of financial statements for We-Sell Realty. b1. Prepare an Income Statement for the Month Ended August 31, 20Y7. Expenses: Office salaries expense Rent expense Automobile expense Supplies expense Miscellaneous expense Total expenses Net income $ v Feedback Check My Work b2. Prepare a statement of owner's equity for the month ended August 31, 20Y7. If an amount box does not require an entry, leave it blank. We-Sell Realty Statement of Owner's Equity For the Month Ended August 31, 20Y7 Line Item Description Omar Farah, capital, August 1, 20 Y7 Investment by owner Net income for August Amount $