Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 Assets Current assets: Cash $18,500 Accounts payable 31,300 Supplies 6,500 Prepaid insurance 16,600 Land 225,000 Total current assets $297,900 Property, plant, and equipment: Building $400,000 Equipment 97,000 Total property, plant, and equipment 635,400 Total assets $933,300 Liabilities Current liabilities: Accounts receivable $41,400 Accumulated depreciation-building 155,000 Accumulated depreciation-equipment 25,000 Net income 118,200 Total liabilities $339,600 Stockholders' Equity Wages payable $6,500 Common stock 75,000 Retained earnings 512,200 Total stockholders' equity 593,700 Total liabilities and stockholders' equity $933,300 Prepare a corrected balance sheet. Labyrinth Services Co. Balance Sheet August 31, 20Y3 Assets Current assets: Cash EAccounts receivable v Supplies Prepaid insurance Total current assets Property, plant, and equipment; Land v Building Accumulated depreciation - building Book value building V Equipment Accumulated depreciation - equipment Book value - equipment v Total property. plant, and equipment Total assets Liabilities Current liabilities: Accounts payable Wages payable Total liabilities Stockholders Equity Common stock v Retained earnings / Total stockholders equity Total liabilities and stockholders equity 0000 0 O 0 Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 Assets Current assets: Cash $18,500 Accounts payable 31,300 Supplies 6,500 Prepaid insurance 16,600 Land 225,000 Total current assets $297,900 Property, plant, and equipment: Building $400,000 Equipment 97,000 Total property, plant, and equipment 635,400 Total assets $933,300 Liabilities Current liabilities: Accounts receivable $41,400 Accumulated depreciation-building 155,000 Accumulated depreciation-equipment 25,000 Net income 118,200 Total liabilities $339,600 Stockholders' Equity Wages payable $6,500 Common stock 75,000 Retained earnings 512,200 Total stockholders' equity 593,700 Total liabilities and stockholders' equity $933,300 Prepare a corrected balance sheet. Labyrinth Services Co. Balance Sheet August 31, 20Y3 Assets Current assets: Cash EAccounts receivable v Supplies Prepaid insurance Total current assets Property, plant, and equipment; Land v Building Accumulated depreciation - building Book value building V Equipment Accumulated depreciation - equipment Book value - equipment v Total property. plant, and equipment Total assets Liabilities Current liabilities: Accounts payable Wages payable Total liabilities Stockholders Equity Common stock v Retained earnings / Total stockholders equity Total liabilities and stockholders equity 0000 0 O 0 Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 Assets Current assets: Cash $18,500 Accounts payable 31,300 Supplies 6,500 Prepaid insurance 16,600 Land 225,000 Total current assets $297,900 Property, plant, and equipment: Building $400,000 Equipment 97,000 Total property, plant, and equipment 635,400 Total assets $933,300 Liabilities Current liabilities: Accounts receivable $41,400 Accumulated depreciation-building 155,000 Accumulated depreciation-equipment 25,000 Net income 118,200 Total liabilities $339,600 Stockholders' Equity Wages payable $6,500 Common stock 75,000 Retained earnings 512,200 Total stockholders' equity 593,700 Total liabilities and stockholders' equity $933,300 Prepare a corrected balance sheet. Labyrinth Services Co. Balance Sheet August 31, 20Y3 Assets Current assets: Cash EAccounts receivable v Supplies Prepaid insurance Total current assets Property, plant, and equipment; Land v Building Accumulated depreciation - building Book value building V Equipment Accumulated depreciation - equipment Book value - equipment v Total property. plant, and equipment Total assets Liabilities Current liabilities: Accounts payable Wages payable Total liabilities Stockholders Equity Common stock v Retained earnings / Total stockholders equity Total liabilities and stockholders equity 0000 0 O 0 Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 Assets Current assets: Cash $18,500 Accounts payable 31,300 Supplies 6,500 Prepaid insurance 16,600 Land 225,000 Total current assets $297,900 Property, plant, and equipment: Building $400,000 Equipment 97,000 Total property, plant, and equipment 635,400 Total assets $933,300 Liabilities Current liabilities: Accounts receivable $41,400 Accumulated depreciation-building 155,000 Accumulated depreciation-equipment 25,000 Net income 118,200 Total liabilities $339,600 Stockholders' Equity Wages payable $6,500 Common stock 75,000 Retained earnings 512,200 Total stockholders' equity 593,700 Total liabilities and stockholders' equity $933,300 Prepare a corrected balance sheet. Labyrinth Services Co. Balance Sheet August 31, 20Y3 Assets Current assets: Cash EAccounts receivable v Supplies Prepaid insurance Total current assets Property, plant, and equipment; Land v Building Accumulated depreciation - building Book value building V Equipment Accumulated depreciation - equipment Book value - equipment v Total property. plant, and equipment Total assets Liabilities Current liabilities: Accounts payable Wages payable Total liabilities Stockholders Equity Common stock v Retained earnings / Total stockholders equity Total liabilities and stockholders equity 0000 0 O 0 Below is the balance sheet for Labyrinth Services Co., which contains errors. Labyrinth Services Co. Balance Sheet For the Year Ended August 31, 20Y3 Assets Current assets: Cash $18,500 Accounts payable 31,300 Supplies 6,500 Prepaid insurance 16,600 Land 225,000 Total current assets $297,900 Property, plant, and equipment: Building $400,000 Equipment 97,000 Total property, plant, and equipment 635,400 Total assets $933,300 Liabilities Current liabilities: Accounts receivable $41,400 Accumulated depreciation-building 155,000 Accumulated depreciation-equipment 25,000 Net income 118,200 Total liabilities $339,600 Stockholders' Equity Wages payable $6,500 Common stock 75,000 Retained earnings 512,200 Total stockholders' equity 593,700 Total liabilities and stockholders' equity $933,300 Prepare a corrected balance sheet. Labyrinth Services Co. Balance Sheet August 31, 20Y3 Assets Current assets: Cash EAccounts receivable v Supplies Prepaid insurance Total current assets Property, plant, and equipment; Land v Building Accumulated depreciation - building Book value building V Equipment Accumulated depreciation - equipment Book value - equipment v Total property. plant, and equipment Total assets Liabilities Current liabilities: Accounts payable Wages payable Total liabilities Stockholders Equity Common stock v Retained earnings / Total stockholders equity Total liabilities and stockholders equity 0000 0 O 0