Galaxy Realty, organized October 1, 2008, is owned and operated by Ora Tasker. How many errors can you find in the following financial statements for Galaxy Realty, prepared after its second month ofoperations?

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Galaxy Realty Income Statement November 30, 2008 $103,800 Expenses: Rent expense . 22,000 Supplies expense. 600 94,000 29,800 Ora Tasker Statement of Owner's Equity November 30, 2007 16,800 . . . .. .. 5,000 $21,800 ._. .. . .. 29,800 Additional investment during November . . .. . . . . . . . Net income for the month .. . . . _ . ..._.. . . .._ . .. Balance Sheet For the Month Ended November 30, 2008 Assets Liabilities Accounts payable 7,600 Supplies . . . . 4,000 Owner's Equity Total assets $ 14,200 Total liabilities and owner's equity · .. . $84,200 ····.. .. . . .