The current assets and current liabilities sections of the balance sheet of Martinez Company appear as follows. Cash Accounts receivable Less: Allowance for doubtful accounts Inventory Prepaid expenses MARTINEZ COMPANY BALANCE SHEET (PARTIAL) DECEMBER 31, 2017 $ 43,100 Accounts payable $91,400 Notes payable 8,290 83,110 165,030 9,460 $300,700 $ 63,430 63,510 $126,940 The following errors in the corporation's accounting have been discovered: 1. January 2018 cash disbursements entered as of December 2017 included payments of accounts payable in the amount of $42,300, on which a cash discount of 2% was taken. 2. The inventory included $31,310 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $11,000 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 2018 in the amount of $31,970 were entered in the sales journal as of December 31, 2017. Of these, $21,740 were sales on account and the remainder were cash sales. 4. Cash, not including cash sales, collected in January 2018 and entered as of December 31, 2017, totaled $34,344. Of this amount, $22,344 was received on account after cash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan. 4. Cash, not including cash sales, collected in January 2018 and entered as of December 31, 2017, totaled $34,344. Of this amount, $22,344 was received on account after cash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan. Calculate the following adjusted balances. Cash Accounts Receivable Inventory Accounts Payable Notes Payable SHOW LIST OF ACCOUNTS State the net effect of your adjustments on Martinez Company's retained earnings balance. to retained earnings $ Click if you would like to Show Work for this question: Open Show Work