Horace Culpepper, CPA, was retained by Sheridan Cable to prepare financial statements for April 2020. Horace accumulated all the ledger balances per Sheridan's records and found the following Sheridan Cable Trial Balance April 30, 2020 Debit Credit Cash $4,100 Accounts Receivable 3,100 Supplies 700 Equipment 10,100 Accumulated Depreciation-Equip. $1,330 Accounts Payable 2,000 Salaries and Wages Payable 700 Unearned Service Revenue 800 Owner's Capital 12,220 Service Revenue 5,400 Salaries and Wages Expense 3,100 Advertising Expense 600 Miscellaneous Expense 300 Depreciation Expense 450 $22,450 $22,450 Horace Culpepper reviewed the records and found the following errors. 1. Cash received from a customer on account was recorded as $880 instead of $590. 2. A payment of $79 for advertising expense was entered as a debit to Miscellaneous Expense $79 and a credit to Cash $79. 3. The first salary payment this month was for $2,000, which included $700 of salaries payable on March 31. The payment was recorded as a debit to Salaries and Wages Expense $2,000 and a credit to Cash $2,000. (No reversing entries were made on April 1.) 4. The purchase on account of a printer costing $360 was recorded as a debit to Supplies and a credit to Accounts Payable for $360. 5. A cash payment of repair expense on equipment for $92 was recorded as a debit to Equipment $55 and a credit to Cash $55. Prepare a correct trial balance. (Do not list those accounts that have zero ending balance.) SHERIDAN CABLE Trial Balance Debit Credit Totals These financial statement items are for Sheridan Company at year-end, July 31, 2020. $1,600 13,100 Salaries and wages payable $1,500 Notes payable (long-term) Salaries and wages expense 52,000 Cash Utilities expense 22,100 Accounts receivable Equipment 31,200 Accumulated depreciation equipment 10,500 6,100 3,300 Accounts payable Service revenue 4,500 Owner's drawings 62,900 Depreciation expense 8,600 Owner's Capital (beginning of the year) 4,400 Rent revenue 51,400 Prepare an owner's equity statement for the year. SHERIDAN COMPANY Owner's Equity Statement