Hi, so I have this project for class, and from the Course Hero project it shows that I have gotten all the correct answers. but my professor says that I should have gotten $460 for my net income instead of -$198, and the total assets should have been $25,548 instead of $24,890. If you could let me know how to make these changes, that would be great, thanks!

Paddleboard Adventures, Inc. Trial Balance May 31st, 2016 Cash Accounts Rec. Prepaid Ins. Paddleboards River Paddleboards Trailer Leasehold Improvements Visa Card Payable Dividends Accounts Payable Common Stock Dividends Retained Earnings Rental Income Clinic Income Marketing Expense Rent Expense Office Supplies Expense Insurance Expense Contract Labor License & Tax Expense Banking Expense Maintenance Expense Utility Expense Charitable Contributions June Transactions 1-Jun Owner invests $20,000 in the business in exchange for common stock. 2-Jun Business rents a retail space for $1,000 3-Jun Business Purchases 10 paddleboard for $7,000 4-Jun Buesiness rents 5 paddleboards to customers for $50 5-Jun Business purchases a trailer for $1,200 7-Jun Business offers a paddling clinic and 6 participants pay $100 each for clinic 8-Jun Business pays $500 for a new storefront sign 9-Jun A check is written for $1200 for insurance 10-Jun Customers rent 10 paddleboards for $40 each 11-Jun Business pays $250 to sponsor an upcoming paddleboard race 12-Jun Owner invests an additional $5,000 in exchange for common stock 13-Jun The owner purchases an additional 2 paddleboards specifically for rivers for $2200 14-Jun A utility bill is received and paid in the amount of $120 15-Jun The shop provides all the boards and delivery for a clinic to a nonprofit that will pay $1,000 at the e 16-Jun Business purchases $685 worth of shelving to help organize the equipment 17-Jun Business purchases and donates a $100 lifejacket as a prize for the upcoming race 18-Jun Customers rent 10 paddleboards for $50 each for the upcoming race and pays cash 19-Jun The business owes $200 to the State for various licensing fees pays with a check 20-Jun Receive a $500 check from the nonprofit on 6/15 21-Jun Business opens a visa card at an area credit union 22-Jun Business pays the instructor from 6/7 clinic $200 23-Jun Business has to do some wiring and modifications on the trailer that cost $145 (cash) 24-Jun Business charges $85 on the new credit card for office supplies 25-Jun A check is written for a telephone bill in the amount of $87 Adjusting 30-Jun The insurance purchased 6/9 is for 12 months 30-Jun Receives the Visa bill with fees and interest of $3 for the month 30-Jun Board declares a $125 dividend to be paid later ers for $2200 t that will pay $1,000 at the end of the month coming race and pays cash ost $145 (cash) Cash $20,000 $250 $600 $400 $5,000 $500 $500 $1,000 $7,000 $1,200 $500 $1,200 $250 $2,200 $120 $685 $100 $200 $200 $145 $87 Accounts Receivable $1,000 $500 $500 $12,363 Visa Card Payable $85 $85 Common Stock $20,000 $5,000 $25,000 Rental Income $250 $400 $500 $1,150 Marketing Expense $250 $250 Dividends Payable $125 $125 Dividends $125 $125 Clinic Income $600 $1,000 $1,600 Rent Expense $1,000 $1,000 Prepaid Insurance $1,200 $73 $1,127 Paddleboards $7,000 $7,000 River Paddleboards $2,200 $2,200 Insurance Expense $73 $73 Contract Labor $200 $200 Accounts Payable $3 $3 Retained Earnings $125 $1,150 $1,000 $1,600 $250 $770 $73 $200 $200 $3 $145 $207 $100 $323 Office Supplies Expense $685 $85 $770 River Paddleboards Contract Labor Trailer $1,200 $1,200 License & Tax Expense $200 $200 Leasehold Improvements $500 $500 Banking Expense $3 $3 Maintenance Expense $145 $145 Utility Expense $120 $87 $207 Charitable Contributions $100 $100 Paddleboard Adventures, Inc. Adjusted Trial Balance June 30th, 2016 Cash Accounts Rec. Prepaid Ins. Paddleboards River Paddleboards Trailer Leasehold Improvements Visa Card Payable Dividends Accounts Payable Common Stock Dividends Rental Income Clinic Income Marketing Expense Rent Expense Office Supplies Expense Insurance Expense Contract Labor License & Tax Expense Banking Expense Maintenance Expense Utility Expense Charitable Contributions Totals Debit $12,363 $500 $1,127 $7,000 $2,200 $1,200 $500 Credit $85 $125 $3 $25,000 $125 $1,150 $1,600 $250 $1,000 $770 $73 $200 $200 $3 $145 $207 $100 $27,963 $27,963 Paddleboard Adventures, Inc. Income Statement June 30th, 2016 Revenue Rental Income Clinic Income $1,150 $1,600 Total Revenues $2,750 Expenses Marketing Expense Rent Expense Office Supplies Expense Insurance Expense Contract Labor License & Tax Expense Banking Expense Maintenance Expense Utility Expense Charitable Contributions Total Expenses $250 $1,000 $770 $73 $200 $200 $3 $145 $207 $100 Net Income $2,948 Paddleboard Adventures, Inc. Balance Sheet June 30th, 2016 Assets Cash Accounts Receivable Prepaid Insurance Paddleboards River Paddleboards Trailer Leasehold Improvements $12,363 $500 $1,127 $7,000 $2,200 $1,200 $500 Total Assets $24,890 Liabilities Visa Card Payable Dividends Payable Accounts Payable $85 $125 $3 Total Liabilities $213 Paddleboard Adventures, Inc. Equity Ending Capital Total Paddleboard Adventures, Inc. Equity Total Liabilities & Owners Equity $24,890