Instructions The following balance sheet contains errors. Mark Brock Services Co. Balance Sheet For the Year Ended December 31 Assets Current assets: Cash $7,170 Accounts payable 7,500 Supplies 2,590 Prepaid insurance 800 Land 24,000 Total current assets $42,060 Instructions Property, plant, and equipment: Building $43,700 Equipment 29,250 Total property, plant, and equipment 72,950 Total assets $131,510 Liabilities Current liabilities: Accounts receivable $10,000 Accumulated depreciation-building 12,525 Accumulated depreciation-equipment 7,340 Net income 11,500 Total liabilities $41,365 Stockholders' Equity Instructions Accumulated depreciation-equipment 7,340 Net income 11,500 Total liabilities $41,365 Stockholders' Equity Wages payable $1,500 Common stock 86,645 Retained Earnings 2,000 Total stockholders' equity 90,145 Total liabilities and stockholders' equity $131,510 Required: Prepare a corrected balance sheet. Be sure to complete the statement heading. Refer to the lists of Accounts, Labels, and Amount Descriptions for the exact wording and order of text entries. You will not need to enter colons (1) on the Balance Sheet. "Less" or "Plus" will automatically appear if it is required. Accounts, Labels, and Amount Descriptions Accounts Cash Accounts receivable Supplies Prepaid insurance Land Building Accumulated depreciation-building Equipment Accumulated depreciation-equipment Accounts payable Wages payable Common stock Retained earnings Labels Current assets Current liabilities Accounts, Labels, and Amount Descriptions vv Wages payable Common stock Retained earnings Labels Current assets Current liabilities December 31 For the Year Ended December 31 Property, plant, and equipment Amount Descriptions Total assets Total current assets Total property, plant, and equipment Total liabilities Total liabilities and stockholders' equity Balance Sheet Prepare a corrected balance sheet. Be sure to complete the statement heading. Refer to the lists of Accounts, Labels, and Amount Descriptions for the exact wording and order of text entries. You will not need to enter colons (.) on the Balance Sheet. Less or Plus will automatically appear if it is required. Mark Brock Services Co. Balance Sheet (Label) 1 Assets 2 (Label) 3 4 5 6 7 8 (Label) Balance Sheet 11 12 13 14 15 16 Liabilities 17 (Label) 18 19 20 21 Stockholders' Equity 22 23 24