The current assets and current liabilities sections of the balance sheet of Pina Company appear as follows. PINA COMPANY BALANCE SHEET (PARTIAL), DECEMBER 31, 2020 Cash $ 41,800 Accounts payable Accounts receivable $91,500 Notes payable Less: Allowance for doubtful accounts 8,970 82,530 Inventory 168,400 Prepaid expenses 8,650 $301,380 $ 62,540 67,930 $130,470 The following errors in the corporation's accounting have been discovered: 1. January 2021 cash disbursements entered as of December 2020 included payments of accounts payable in the amount of $41,800, on which a cash discount of 2% was taken. 2. The inventory included $30,820 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $10,010 had been received on consignment; the remainder was purchased f.o.b. destination, terms 2/10, n/30. 3. Sales for the first four days in January 2021 in the amount of $27,220 were entered in the sales journal as of December 31, 2020. Of these, $20,400 were sales on account and the remainder were cash sales. 4. Cash, not including cash sales, collected in January 2021 and entered as of December 31, 2020, totaled $34,932. Of this amount, $22,932 was received on account after cash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan. - Your answer is partially correct. Calculate the following adjusted balances. Cash 41012 Accounts Receivable $ Inventory A Accounts Payable " Notes Payable $ e Textbook and Media List of Accounts Restate the current assets and current liabilities sections of the balance sheet in accordance with good accounting practice. (Assume that both accounts receivable and accounts payable are recorded gross.) (List Current Assets in order of liquidity.) PINA COMPANY Balance Sheet (Partial) December 31, 2020 Asset Current Assets Cash Accounts Receivable Less : Allowance for Doubtful Accounts Inventory Prepaid Expenses Total Current Assets Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Notes Payable Total Current Liabilities e Textbook and Media List of Accounts Your answer is incorrect. State the net effect of your adjustments on Pina Company's retained earnings balance. Decrease to retained earnings $