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Balance Sheet Below is the balance sheet for Labyrinth Services Co, which contains errors. Labyrinth Services Co. Balance Sheet August 31, 20Y3 Line Item Description Assets Current assets: Cash Accounts receivable Supplies Prepaid insurance Total current assets Property, plant, and equipment: Eand Building Accumulated depreciation - building Bookvalue-bulling Equipment Accumulated depreciation - equipment Amount Amount Amount 54.000 190.100 Book value-equipment 51500 Liabilities Current liabilities: Accounts receivable Accumulated depreciation-building Accumulated depreciation-equipment Net income Total liabilities $27,000133,10021,600115,700 $297,400 Stockholders' Equity Wages payable Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $2,300 150,000 277,600 429,900$727,300 Prepare a corrected balance sheet. Accumulated depreciation-building Bookvalue-building Equipment Accumulated depreciation-equipment Book value - equipment Total property, plant, and equipment Total assets Liabilities Current liabilities: Accounts payable Wages payable Total liabilities Stockholders' Equity Commonstock v Retained eamings v Total stockholders' equity Total liabilities and stockholders' equity $ 396,100

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