List the errors you find in the following balance sheet. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 2016 1 Assets 2 Current assets: 3 Cash $18,500.00 4 Accounts payable 31,300.00 5 Supplies 6,500.00 6 Prepaid insurance 16,600.00 7 Land 225,000.00 8 Total current assets $297,900.00 9 Property, plant, and equipment: 10 Building $400,000.00 11 Equipment 97,000.00 12 Total property, plant, and equipment 635,400.00 13 Total assets $933,300.00 14 Liabilities 15 Current liabilities: 16 Accounts receivable $41,400.00 17 Accum. depr.building 155,000.00 18 Accum. depr.equipment 25,000.00 19 Net income 118,200.00 20 Total liabilities $339,600.00 21 Owners equity 22 Wages payable $6,500.00 23 Ruben Daniel, capital 587,200.00 24 Total owners equity 593,700.00 25 Total liabilities and owners equity $933,300.00 Prepare a corrected balance sheet. Fixed assets must be entered in order according to account number. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading.

August 31, 2016
Current assets
Current liabilities
Expenses
Property, plant, and equipment
Revenues
Amount Descriptions
Accumulated depreciation
Decrease in owners equity
Increase in owners equity
Net income
Net loss
Ruben Daniel, capital
Ruben Daniel, capital, August 1, 2015
Ruben Daniel, capital, August 31, 2016
Total assets
Total current assets
Total expenses
Total liabilities
Total liabilities and owners equity
Total property, plant, and equipment
Withdrawals