Question: Can I please get corrections for the items in red? Thank you Exercise 5-17 (Part Level Submission) Buffalo Corporation's balance sheet at the end of

 Can I please get corrections for the items in red? Thankyou Exercise 5-17 (Part Level Submission) Buffalo Corporation's balance sheet at theend of 2016 included the following items Current liabilities Current assets (Cash$82,000) $236,420 Land Buildings Equipment Accum. depr.-buildings Accum. depr.-equipment Patent $151,420 101,420

Can I please get corrections for the items in red? Thank you

Exercise 5-17 (Part Level Submission) Buffalo Corporation's balance sheet at the end of 2016 included the following items Current liabilities Current assets (Cash $82,000) $236,420 Land Buildings Equipment Accum. depr.-buildings Accum. depr.-equipment Patent $151,420 101,420 182,610 32,610 Bonds payable 121,420 Common stock 92,610 Retained earnings 46,610 $482,060 (31,420) Total (11,000) 41,420 Total $482,060 The following information is available for 2017 1. Net income was $60,370 2. Equipment (cost $21,420 and accumulated depreciation $9,420) was sold for $11,420 3. Depreciation expense was $5,420 on the building and $10,420 on equipment. 4. Patent amortization was $2,500 5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,420. 6. An addition to the building was completed at a cost of $28,420 7. A long-term investment (Equity) in stock was purchased for $16,000 8. Bonds payable of $52,610 were issued 9. Cash dividends of $30,000 were declared and paid 10. Treasury stock was purchased at a cost of $11,000

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