Problem 2-35: I know that I did something wrong with filling out the following accounting sheet, because the assets do not equal liabilities and stockholder's equity. I can't for the life of me figure out what it is that I have missed. It is necessary to have the equation done correctly to answer question B through M.

Waddell Company had the following balances in its accounting records as of December 31, 2018: Assets Cash Accounts Receivable Land Totals $35,000 9,000 51,000 $95,000 Liabilities and Equity Accounts Payable Common Stock Retained Earnings $ 7,500 40,000 47,500 $95,000 The following accounting events apply to Waddell Company's 2019 fiscal year. Jan. 1 Acquired $20,000 cash from the issue of common stock. Feb. 1 Paid $6,000 cash in advance for a one-year lease for office space. Mar. 1 Paid a $2,000 cash dividend to the stockholders. April 1 Purchased additional land that cost $15,000 cash. May 1 Made a cash payment on accounts payable of $5,500. July 1 Received $9,600 cash in advance as a retainer for services to be performed monthly over the coming year. Sept. 1 Sold land for $30,000 cash that had originally cost $30,000. Oct. 1 Purchased $2,500 of supplies on account. Dec. 31 Earned $58,000 of service revenue on account during the year. 31 Received cash collections from accounts receivable amounting to $46,000. 31 Incurred other operating expenses on account during the year that amounted to $28,000. 31 Recognized accrued salaries expense of $6,500. 31 Had $50 of supplies on hand at the end of the period. 31 The land purchased on April 1 had a market value of $20,000. Recognized $500 of accrued interest revenue. 31 Required WADDELL COMPANY Accounting Equation Assets + Date Prepaid Rent Liabilities Salaries Payable Interest Receivable Supplies Land Accounts Payable 7,500 Unearned Revenue + Stockholders' Equity Common + Retained Stock Earnings 40,000 + 47,500 20,000 + 51,000 Bal. Jan. 1 Feb. 1 Accounts Cash Receivable 35,000 9,000 20,000 (6,000) (2,000) (15,000) + 6,000 + + Mar. 1 + + (2,000) 15,000 = + + (5,500) + + April 1 May 1 July 1 Sept. 1 Oct. 1 9,600 + + 9,600 30,000 (30,000) + + 2,500 2,500 + + = + + 58,000 Dec. 31 Dec. 31 58,000 (46,000) 46,000 + Dec. 31 28,000 + + Dec. 31 6,500 + + + + (6,500) (2,450) (2,450) + + Dec. 31 Dec. 31 Dec. 31 + + 500 + + + + Dec. 31 Dec. 31 + + Bal. 117,600 21,000 6,000 50 500 36,000 = 32,500 6,500 9,600 + 60,000 + 94,550