We-Sell Realty, organized August 1, 2016, is owned and operated by Omar Farah. How many errors can you find in the following statements for We-Sell Realty, prepared after its first month of operations?

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We-Sell Realty Income Statement August 31, 2016 Sales commissions Expenses: 140,000 Rent expense 18,000 7,500 2,200 1,150 Miscellaneous expense Supplies expense -115,850 25,000 Total expenses Omar Farah Retained Earnings Statement August 31, 2015 Retained earnings, August 1, 2016 Less dividends during August... 0 10,000 $(10,000) 15,000 5,000 25,000 30,000 Issued additional common stock August 1, 2016....... . . .. Retained earnings, August 31, 2016 Balance Sheet For the Month Ended August 31, 2016 Assets Liabilities Cash Accounts payable... 4,000 Stockholders' Equity 30,000 . 531,250 Total liabilities and stockholders' equity...$72,600 Total assets