Due at the start of class on Tuesday, March 24, 2020. Late assignments will not be accepted 1. The following balance sheet contains errors. On a separate piece of paper, prepare a corrected balance sheet. Mark Brock Services Co. Balance Sheet For the Year Ended December 31 $ 7,170 7,500 Assets Current assets: Cash Accounts payable Supplies Prepaid insurance Land Total current assets Liabilities Current liabilities: Accounts receivable Accum. depr.-building Accum. depr.-equipment Net income $10,000 12,525 7,340 11,500 2,590 800 24,000 $42,060 Total liabilities $41,365 Property, plant, and equipment: Building Equipment Total property, plant, and equipment $43,700 29,250 $1,500 86,645 2,000 Stockholders' Equity Wages payable Common stock Retained earnings Total stockholders' equity 72.950 Total liabilities and $131.510 stockholders' equity 90,145 Total assets $131,510