Exercises Part B 9. The worksheet on page 185 contains several errors. a. List the errors b. Prepare a correct work sheets. c. What is the correct net income? d. If these errors were not discovered, what would the effect be on the net income and the final balance in the owner's Capital account? Worksheet for exercise 9 A Littleton Co Work Sheet For the month of May 20- TRIAL BALANCE INCOME STATEMENT ACCOUNT ITTLE NO IMUNIT CREDIT DENY CREDER MALANCE SHEE DEMT CREDIE Cash 300000 3000 00 Accounts Receivable 8000 00 800000 Equipment Accounts Payable Bank Loan (5 years) A Littleton, Capital A. Littleton, Drawings Sales Rent Expense Salaries Expense Office Expense General Expense Net Income 20 000 00 50000 200000 21 000 00 7000 00 700000 80 000 00 80 000 00 3000 00 60 000 00 190000 600 00 3000.00 60 000 00 1900 00 60000 103 500 00 103 5 00 00 72 500 00 20 000 00 500 00 200000 21 000 00 80 000 00 23 5 00 00 31 000 00 750000 750000 80 000 00 80 000 00 310 00 00 31000 00