After reviewing the Financial Statements for Eric Woods, CPA, identify as many errors as you can find within these Financial statements. Also, explain WHY the errors would be considered incorrect. Finally, calculate the correct Net Income, Ending Capital, Ending Asset, and Liability Balance. As a hint, there are actually 12 errors in these Financial statements.

to view the Incorrect Financial Statements for Eric Woods, CPA. After reviewing the Financial Statements for Eric Woods, CPA, identify as many errors as you can find within these Financial statements. Also, explain WHY the errors would be considered incorrect. Finally, calculate the correct Net Income, Ending Capital, Ending Asset, and Liability Balance. As a hint, there are actually 12 errors in these Financial statements. Eric Wood, CPA, was organized on January 1, 2015, as a proprietorship. List the 12 errors that you find in the following financial statements for the three months ended Mai Eric Wood, CPA Income Statement Fees earned For the Three Months Ended March 31, 2015 Operating expenses: Salary expense Rent expense Wages expense Utilities expense Miscellaneous expense Answering service expense Supplies expense Total operating expenses Net income Eric Wood, capital, January, 1, 2015 Investment on January 1,2015 Net income for the 3 months Less withdrawals Increase in owner's equity Eric Wood, capital, March 31, 2015 Eric Wood, CPA Statement of Owner's Equity March 31, 2015 Balance Sheet For the Three Months Ended March 31, 2015 $13,000 Eric Wood, capital 10,860 2,670 Accounts receivable Owner's EqL Land Assets Cash Accounts payable Supplies Total assets 15, as a proprietorship