Malcolm, Inc. was incorporated on January $1,2025$ with the issuance of common stock in

return for $$90,000$ of cash contributed by the owners. The only other transaction entered

into prior to beginning operations was the issuance of a $$75,300$ note payable in

exchange for a building and equipment. The following trial balance was prepared at the

end of the first month by the accountant for Malcolm:

REQUIRED: Identify the two errors in the trial balance above and prepare a

corrected trial balance.