I need assistance with the following:

I know there is no retained earnings so that can disappear.

Allowance for doubtful accounts should be less allowance and not plus allowance.

Under PPE, Land can depreciate, but office equipment can, so it should be the other way around with the labels and numbers, thus, less depreciation.

PPE

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Office Equipment 73340

Less Accumulated Depreciation -36700 36640

Land 46200

TOTAL PPE 82840

IS THAT CORRECT???

The following are the information of Chun Equipment Co. for Year 2. (Hint: Some of the items will not appear on either statement, and ending retained earnings must be calculated.) Required Prepare a multistep income statement and balance sheet for Chun Equipment Co. for Year 2. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare the balance sheet for Chun Equipment Co. for Year 2. (Be sure to list the assets in the order of their liquidity.)