List the errors in the following balance sheet. Prepare a corrected balance sheet. Tent Services Co Balance

List the errors in the following balance sheet. Prepare a corrected balance sheet.

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Tent Services Co Balance Sheet For the Year Ended December 31, 2015 Assets Liabilities Current assets Current liabilities Cash Accounts payable Supplies Prepaid insurance Land 15,840 20,370 4,950 14,400 180,000 41,250 260,100 55,440 Accounts receivable Accum. depr. building Accum. depr.- equipment Total current assets $235,560 Net income 75,000 Property, plant, and Total liabilities $431,790 equipment: Building Owner's Equity 470,100 129,000 Wages payable Henry Dearborn, Capital 4,020 515,610 Equipment Total property, plant, and equipment 715,860 Total owners equity 951,420 owner's equity 519,630 Tota liabilities and Total assets $951,420