Alpine Realty, Inc., organized July 1, 20Y8, is operated by Angela Griffin. The financial statements it has prepared as of July 31, 20Y8 contain errors. ALPINE REALTY, INC. Income Statement July 31, 20Y8 Sales commissions $60,000 Operating expenses: Office salaries expense $20,000 Rent expense 6,000 Automobile expense 3,500 Dividends 2,000 Miscellaneous expense 1,500 Total operating expenses (33,000) Net income $27,000