Identify the 2 errors in the following Balance Sheet. (treat this one completely independent of the statements above). Make sure to clearly explain your errors so I understand your explanation.

DIVVY Company
Balance Sheet
For the Month Ended 1/31/2021
Assets			Liabilities
Cash	15,000		Accounts Payable	5,000
Accounts Receivable	4,000		Accumulated Depreciation	6,000
Equipment	8,000		Total Liabilities	11,000
Depreciation Expense	4,000
Prepaid Insurance	2000		Owner's Equity
			Common Stock	20,000
			Retained Earnings	2,000
			Total Owner's Equity	22,000
Total Assets	33,000		Total Liabilities + OE	33,000