The night manager of Willis Transportation Service, who had no accounting background, prepared the following balance sheet for the company at February 28, current year. The dollar amounts were taken directly from the company's accounting records and are correct. However, the balance sheet contains a number of errors in its headings, format, and the classification of assets, liabilities, and owners' equity. NOT: retained earnings = net profit, capital stock = capital WILLIS TRANSPORTATION SERVICE Manager's Report 8 P.M. Thursday Assets Capital stock Retained Earnings Cash Building Automobiles Owners' Equity 93,000 Accounts receivable $ 78,000 69,000 Notes payable 280,000 67,000 Supplies 14,000 90,000 Land 70,000 165,000 Accounts payable 42,000 $ 484,000 $ 484,000 Prepare a corrected balance sheet. WILLIS TRANSPORTATION SERVICE Assets Liabilities & Owners' Equity Liabilities: Total liabilities Owners' equity: Total Assets Total Liabilities & Owners' Equity