The financial statements below were prepared by a student intern who did not think it was important to go to accounting class. She frequently missed class and never did homework. Identify twelve (12) errors that were made and how they would be corrected. For example, if an item is wrong section, you cannot just say, "Sales should not be an Asset. You would have to say, "Sales should not be an asset on the balance sheet, it should be a revenue on the income statement." On this paper, identify errors by using the numbers 1-12. Then, enter your responses on the lined paper provided, including the reference number. Do NOT prepare corrected statements. Do not note errors on this page. Skip a line between each entry. Responses must be legible for me to grade. Assets Service Revenue Intrest Income Unearned Revenue Prepaid Rent Accounts Receivable Total Less: Expenses Dividend expense Salary payable Accumulated depreciation Office expense Net Income Opening balance Add: Net income Deduct: Additional Investments by owner Total Balance Sheet follows on next page Berkeley Playhouse Income Statement At 12/30/22 $5,000 50,000 5,000 1,000 $100,000 10,000 15,000 5,000 25,500 $350,000 $300,000 Berkeley Playhouse Statement of Retained Earnings For the year ended 12/31/22 $50,000 300,000 100,000 450,000 Assets: Cash Service Revenue Props and Costumes Supplies Theater Building Lighting Equipment Automobile Total Assets $ 21,900 132,200 3,000 2,500 27,000 9,400 15,000 $208,500 Berkeley Playhouse Balance Sheet For the year ended 12/31/22 Liabilities: Accounts Payable Salaries Expense Bonds Payable Equity: Accumulated Depreciation Common Stock Dividends Total Liabilities & Equity $6,000 29,200 (25,000) 50,000 50,000 $218,500