Johnson Ltd. has a fiscal year-end on December 31. Below is the trial balance after closing the book on December 31, 2017: Before the senior accountant prepared the financial statements for the year of 2017, the following errors were identified. Errors made in 2016 by an inexperienced accountant: The inventory was overstated by $ 13,000 A prepaid expense of $2, 400 was omitted. (It was fully expensed in 2016.) Accrued revenue of $2, 500 was omitted. (It was recognized when cash was received in 2017.) A supplier's invoice for $1, 700 for inventory purchases made in 2016 was not recorded until 2017. But the purchase was included in the 2016 December 31 inventory. There were further errors made in 2017: The inventory was understated by $ 17,000. A prepaid expense of $750 was omitted. Accrued December 2017 salaries of $1, 800 were not recognized. Unearned income of $2, 300 was recorded in the 2017 revenue. In addition, it was determined that $20,000 of the accounts payable were long-term, and that a $500 dividend was reported as dividend expense and deducted in calculating net income. The net income reported on the books for 2017 was $53,000. Required: Write journal entries to correct each of the above errors if necessary. Prepare the statement of financial position on December 31, 2017