QUESTION 34 Students submitted the following balance sheet for a group project. Most of the students in the group did not think it was important to go to accounting class. They frequently missed class and rarely did homework. Identify five errors that were made and how they would be corrected Do NOT prepare corrected statements Berkeley Playhouse Balance Sheet For the year ended 12/31/20 Assets: Liabilities: Cash $ 21,900 Accounts Payable Service Revenue 132,200 Salaries Expense Props and Costumes 3,000 Supplies 2,500 Theater Building 27,000 Equity: Lighting Equipment 9,400 Owner's Capital $50,000 Automobile 15.000 Owner's Withdrawals (5.000) Total Assets 5208.500 Total Liabilities & Equity 5218.500