Yousif is a new accountant at Reema Company, he made some errors while preparing Statement of Financial Position. Yousif errors led to total assets of BHD573,000 and total equity and liabilities BHD592,000.

Required: Identify the errors and recommend how we can correct them

Noncurrent Assets:	BHD	BHD
Equipment, net	86,000
Building, net	41,000
Land	101,300
Total non-current assets		228,300
Current assets:
Inventory, 1 December 2019	3,700
Office supplies	12,000
Notes receivable (due in 2 years)	196,000
Accounts receivable	100,000
Cash	33,000
Total current assets		344,700
Total assets		573,000
Equity:
Capital, 31 December 2018		131,200
Non-Current liability:
Long-term notes payable	198,000
Bank overdraft	48,000
Current liability:
Accounts payable	124,060
Unearned revenue	78,460
Interest payable	12,280
Total current liability
Total liability		234,800
Total equity & liability		592,000