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Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 2019 Assets

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Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 2019 Assets Current assets: Cash Accounts payable Supplies Prepaid insurance Land $20,200 29,500 9,200 16,500 220,000 Total current assets $295,400 Property, plant, and equipment: Building Equipment $460,500 104,200 Total property, plant, and equipment 766,300 Total assets $1,061,700 Fishiline Liabilities Current liabilities: Accounts receivable Accumulated depreciation-building Accumulated depreciation-equipment Net Income Total liabilities $46,000 189,600 30,800 168,600 $435,000 Owner's Equity $3,300 623,400 Wages payable Ruben Daniel, Capital Total owner's equity Total liabilities and owner's equity 626,700 $1,061,700 Required: Prepare a corrected balance sheet. Labyrinth Services Co. Balance Sheet August 31, 2019 Assets Current assets: Required: Prepare a corrected balance sheet. Labyrinth Services Co. Balance Sheet August 31, 2019 Assets Current assets: Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: Total liabilities Owner's Equity Total liabilities and owner's equity

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