Q(2) You have the following sections extracted from the statement of financial positon of Stark company Stark Lad. Statement of Financial Position (Partial December 31.2019 Current assets Current liabilities Inventory 171,000 Note payable 67,000 Account payable 61.000 Account receivables 89.000 Less: Allowance for doubtful 7.000 52.000 accounts Prepaid expenses 0.000 Total current l128,000S Cash Total current assets 400 302.0008 You have discovered the following errors; 1. January 2020 cash disbursements entered as December 2019 included payments of account payable in the amount of 35,000 2. The inventory included 27,000 of merchandise that had been received at Dec 30, these goods were purchased FOB destination and the inventory also included 10,000 the company is holding as consignment for Tyrel company. 3. Sales for the first five days of January 2020 in the amount of 30,000 were entered as sales for Dec 31, 2019. of this amount 21,500 were sales on account and the remainder were cash sales 4. Only 20,000 of note payable are due within 12 months or the operating cycle whichever longer. Required: A. restate both section using the correct accounting practices and rules Stark Lid. Sutement of Financial Position (Partial) December 31, 2019 Current assets Current liabilities Inventory Note payable Account payable Account receivables Less: Allowance for doubtful accounts Prepaid expenses Total current liabilities Total current assets B. explain every error correction Error explanation