U of 15 The bookkeeper of O'Leary Services Co a proprietorship, prepared the balance sheet of the company while the accountant was ill The balance sheet is not correct. The bookkeeper knew that the balance sheet should balance so he "plugged in the owner's equity amount needed to achieve this balance The owner's equity amount however, is not correct. All other amounts are accurate except the "Total assets" amount (Click the icon to view the financial data.) Required 1. Prepare the corrected balance sheet, and date it correctly Compute total assets total liabilities, and owner's equity 2. Consider the original balance sheet as presented and the corrected balance sheet you prepared for Requirement 1 Did total assets presented in your corrected balance sheet increase decrease, or stay the same compared to the onginal balance sheet? Why? Requirement 1. Prepare the corrected balance sheet, and date it correctly Compute total assets, total liabilities, and owner's equity Begin by preparing the heading and then complete the body of the statement O'Leary Services Co Balance Sheet July 31 2019 Assets Liabilities Cash Land. 72000 Note payable 71000 55000 138000 Accounts payable Accounts receivable 79000 126000 Total liabilities J O'Leary capital 3200 Owner's Equity 68000 Office furniture J O'Leary capital 360200 Total abilities and owner's equity Total assets 4 Clear all Check answer Requirement 1. Prepare the corrected balance sheet, and date it correctly Compute total assets, total liabilities, and owner's equity Begin by preparing the heading, and then complete the body of the statement O'Leary Services Co. Balance Sheet July 31, 2019 Assets Liabilities Cash 72000 Note payable 71000 Land 138000 Accounts payable 55000 Accounts receivable 79000 Total liabilities 126000 J O'Leary, capital 3200 Owner's Equity 68000 Office furniture J O'Leary, capital 360200 Total assets Total liabilities and owner's equity ba nt Financial data to bal O'Leary Services Co. Balance Sheet For the Month Ended July 31, 2019 Assets Liabilities Cash $ 72,000 Service revenue $ 280,000 Office supplies 6,200 Note payable 71,000 ly Land 138,000 Accounts payable 55,000 m Advertising expense 10,000 Office furniture 68,000 Accounts receivable 79,000 36,000 Rent expense Owner's Equity 3.200 J O'Leary, capital Total liabilities and ab $ 409 200 $ 409,200 Total assets owner's equity itie Print Done 0 of 15 -X hew that the balance sheet ase, decrease, or stay the s