List any errors you can find in the following balance sheet. Prepare a corrected balancesheet. ATLAS SERVICES

List any errors you can find in the following balance sheet. Prepare a corrected balancesheet.

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ATLAS SERVICES CO. Balance Sheet For the Year Ended May 31,2012 Assets Current assets: . 12,000 .47,900 4,800 Cash Accounts payable Prepaid insurance . Total current assets $482,100 Property, plant, and equipment: .. $225,000 90,000 Equipment.... 315,000 5797100 Total assets Liabilities Current liabilities: Accounts receivable .. $ 40,800 54,600 Accumulated depreciation-equipment ....32400 Total liabilities... $172,000 Stockholders' Equity 200,000 655,100 $797,100 Total liabilities and stockholders' equity..._...