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P1-64B (Learning Objectives 3, 4, 5: Using the accounting equation; preparing a balance sheet; making decisions) The manager of News Maker, Inc., prepared the company's balance sheet while th the manager knew that the balance sheet should balance, so he plugged in the e accountant was ill. The balance sheet contains numerous errors. In particular, equ ity amount needed to achieve this balance. The shareholders' equity amount is not correct. All other amounts are accurate. News Maker Inc Balance Sheet For the Month Ended November 30:20x60s Assets Liabilities Cas. 7,500, Equipment.39,000 Accounts payabe..4,000 1,700 400 82,000 4,500 Notes reccivabl. e 14,500 Interest expense.1,60 Office supplies Accounts receivabl. Note payable. 900 Advertising expense 5,400 Salary expens. Shareholders' Equity Shareholders' eqtuity63,700 otal liabilities .. 139,100 Total assets...139,100