The following Classified Balance Sheet has numerous errors

| September 29, 2018

The following classified Balance Sheet has numerous errors. Indicate in this Balance Sheet by describing in words the deficiencies.Tigeress Company, Inc. Tire Balance For the year ended Dec. 31, 2001Assets, Liabilities and Net WorthBuilding, at cost$8700Accumulated Depreciation$2300Land, appraised value$5000Note Payable (due 2005)$4000Inventory, retail price$6000Common Stock$10000Accounts Receivable$3500Retained Earnings$ 500Accounts payable($1600)Total Liabilities$16800Cash$1200Amount to balance$6000Total Assets$22800Total Liab. & Net Worth$22800Additional information:Land has an original cost of $2000 and inventory cost the company $3000.

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