The Balance Sheet (including notes) presented below has been submitted to you by an inexperienced bookkeeper. Prepare a corrected balance sheet (including notes). Consider formatting. terminology deficiencies, and classification inaccuracies in your corrections. Note 1. The reserve for contingencies has been created by charges to earned surplus and has been established to provide a cushion for future uncertainties. Note 2. The inventory account includes only items physically present at the main plant and warehouse. Items located at the company's branch sales office amounting to $40,000 are excluded since the company has consistently followed this procedure for many years