OBJ.5 EX 1-25. Financial statements We-Sell Realty, organized August 1, 2014, is owned and operated by Omar Farah. How many errors can you find in the following statements for We-Sell Realty, prepared after its first month of operations? We-Sell Realty Income Statement August 31, 2014 $140,000 Sales commissions Expenses: Office salaries expense Rent expense.... Automobile expense.. Miscellaneous expense.. Supplies expense... Total expenses. Net income $87,000 18,000 7,500 2,200 1,150 115,850 $ 25,000 Omar Farah Statement of Owner's Equity August 31, 2013 Omar Farah, capital, August 1, 2014.... Less withdrawals during August... Investment on August 1, 2014...... $ 0 10,000 $(10,000) 15,000 $ 5,000 25,000 $ 30,000 Net Income for August... Omar Farah, capital, August 31, 2014 Assets Cash Accounts payable Balance Sheet For the Month Ended August 31, 2014 Liabilities $ 8,900 Accounts receivable. 22,350 Supplies ... Owner's Equity Omar Farah, capital...... $31,250 Total liabilities and owner's equity... $38,600 4,000 Total assets 30,000 $72,600 Prepare the income statement, statement of retained earnings, and balance sheel