ia Stewart Corporation discovered in 2013 that it had incorrectly recorded in 2018 a cash payment of $45,000 for utilities expense. The correct amount of the ulties expense was $20,000 Requirements 1. Determine the effect of the error on the accounting equation in 2018 2. How should this error be reported in the 2019 financial statements? Requirement 1. Determine the effect of the error on the accounting equation in 2018. In 2018, the error utilities expense and by s equity would be In 2018, total stockholders