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Balance Sheet Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31,

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Balance Sheet Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 Assets Current assets: Cash $19,600 Accounts payable 33,300 Supplies 8,900 Prepaid insurance 15,900 Land 254,100 Total current assets $331,800 Property, plant, and equipment: Building $531,800 Equipment 120,300 Total property, plant, and equipment 864,800 Total assets $1,196,600 Liabilities Current liabilities: Accounts receivable $44,500 Accumulated depreciation-building 219,000 Accumulated depreciation-equipment 35,600 Net income 190,300 Total liabilities $489,400 Stockholders' Equity Wages payable $3,700 Common stock 150,000 Retained earnings 553,500 Total stockholders' equity 707,200 Total liabilities and stockholders' equity $1,196,600 Prepare a corrected balance sheet. Labyrinth Services Co. Balance Sheet August 31, 2013 Assets Current assets: $ $ Total current assets Property, plant, and equipment: $ $ $ Accounts payable Building Cash Equipment Land $ Total current assets Property, plant, and equipment: $ $ $ Total property, plant, and equipment 00 Total assets Liabilities Current liabilities: $ Total liabilities $ Stockholders' Equity $ $ Total stockholders' equity 00 Total liabilities and stockholders' equity

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