The following balance sheet was prepared by Labyrinth Services Co. for its year ended August 31, 20Y3. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 1 Assets 2 Current assets: 3 Cash $17,000.00 4 Accounts payable 32,800.00 5 Supplies 5,000.00 6 Prepaid insurance 16,000.00 7 Land 212,000.00 8 Total current assets $282,800.00 9 Property, plant, and equipment: 10 Building $420,000.00 11 Equipment 92,000.00 12 Total property, plant, and equipment 647,800.00 13 Total assets $930,600.00 14 Liabilities 15 Current liabilities: 16 Accounts receivable $41,800.00 17 Accumulated depreciation-building 154,000.00 18 Accumulated depreciation-equipment 27,000.00 19 Net income 117,800.00 20 Total liabilities $340,600.00 21 Stockholders Equity 22 Wages payable $6,800.00 23 Common stock 75,000.00 24 Retained earnings 508,200.00 25 Total stockholders equity 590,000.00 26 Total liabilities and stockholders equity $930,600.00 Prepare a corrected balance sheet