Question: List any errors you can find in the following balance sheet. Prepare a corrected balance sheet. ATLAS SERVICES CO. Balance Sheet For the Year Ended

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

ATLAS SERVICES CO. Balance Sheet For the Year Ended May 31, 20YS Current assets: 47,900 4,800 Prepaid insurance. Total current assets..._. . $482,100 $225,000 Total property,plant, and equipment 315,000 Liabilities Current liabilities: 40,800 54,600 44,200 $8,100 200,000 447000 Common stock. 655,100

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