Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 1 Assets 2 Current assets: S Cash 4 Accounts payable 5 Supplies 6 Prepaid insurance $18,500.00 31,900.00 6,500.00 17,200.00 200,800.00 $274,900.00 7 Land 8 Total current assets Property, plant, and equipment: 10 Building $420,000.00 11 Equipment 98,000.00 12 Total property, plant, and equipment 656,800.00 13 Total assets $931,700.00 14 Liabilities 15 Current liabilities: 16 Accounts receivable Check My Work All work saved. $42,400.00 14 15 Current liabilities: 16 Accounts receivable Liabilities 17 Accumulated depreciation-building 18 Accumulated depreciation-equipment 19 Net income 20 Total liabilities $42,400.00 153,000.00 25,500.00 117,800.00 $338,700.00 21 Stockholders' Equity 22 Wages payable $6,800.00 23 Common stock 75,000.00 24 Retained earnings 511,200.00 25. Total stockholders' equity 593,000.00 26 Total liabilities and stockholders' equity $931,700.00 Prepare a corrected balance sheet. Fixed assets must be entered in the following order: Land, Building, Equipment. Be sure to complete the staterm and the list of Labels and Amount Descriptions for the exact wording of text entries. Negative amounts should be indicated by the minus sign. Labels and Amount Descriptions Labels August 31.2003 Labels August 31, 20Y3 Current assets Current liabilities For the Year Ended August 31, 20Y3 Property, plant, and equipment Amount Descriptions Book value-building Book value-equipment Net income Net loss Total assets Total current assets Total expenses Total liabilities Total liabilities and stockholders' equity Total property, plant, and equipment Total stockholders' equity