Question: Balance Sheet Below is the balance sheet for Labyrinth Services Co, which contains errors. Labyrinth Services Co. Balance Sheet August 31, 20Y3 Line Item Description

 Balance Sheet Below is the balance sheet for Labyrinth Services Co,
which contains errors. Labyrinth Services Co. Balance Sheet August 31, 20Y3 Line
Item Description Assets Current assets: Cash Accounts receivable Supplies Prepaid insurance Total
current assets Property, plant, and equipment: Eand Building Accumulated depreciation - building

Balance Sheet Below is the balance sheet for Labyrinth Services Co, which contains errors. Labyrinth Services Co. Balance Sheet August 31, 20Y3 Line Item Description Assets Current assets: Cash Accounts receivable Supplies Prepaid insurance Total current assets Property, plant, and equipment: Eand Building Accumulated depreciation - building Bookvalue-bulling Equipment Accumulated depreciation - equipment Amount Amount Amount 54.000 190.100 Book value-equipment 51500 Liabilities Current liabilities: Accounts receivable Accumulated depreciation-building Accumulated depreciation-equipment Net income Total liabilities $27,000133,10021,600115,700 $297,400 Stockholders' Equity Wages payable Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $2,300 150,000 277,600 429,900$727,300 Prepare a corrected balance sheet. Accumulated depreciation-building Bookvalue-building Equipment Accumulated depreciation-equipment Book value - equipment Total property, plant, and equipment Total assets Liabilities Current liabilities: Accounts payable Wages payable Total liabilities Stockholders' Equity Commonstock v Retained eamings v Total stockholders' equity Total liabilities and stockholders' equity $ 396,100

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