The IT manager of On Call Realty, Inc., prepared the balance sheet of the company while the accountant was ill. The balance sheet contains numerous errors. In particular, the IT manager knew that the balance sheet should balance, so she plugged in the retained earnings amount to achieve this balance. The retained earnings amount, however, is not correct. All other amounts are accurate, but some are out of place.

Requirement
1. Prepare a new, corrected balance sheet for On Call Realty,Inc.

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On Call Realty, Inc. Balance Sheet Month Ended November 30, 2012 ASSETS LIABILITIES Cash Rent Expense Supplies Expense Salaries Payable Equipment 2,500 900 3,200 7,000 $31,000 Accounts Payable 1,800 Utilities Expense 500 Accounts Receivable 1,100 Notes Payable 8,100 STOCKHOLDERS' EQUITY Common Stock Supplies Retained Earnings Total Stockholders' Equity Total Liabilities & 10,000 580 18.320 28,900 Total Assets 42,500Stockholders' Equity