The following balance sheet contains errors. 
(a) List the errors in the balance sheet above and (b) prepare a corrected balance sheet.
Definitions:
Social Benefits
The aggregate advantage to society derived from the production or consumption of a product, encompassing both individual benefits and any additional external advantages.
Pay-per-view Movies
A service that allows consumers to pay for individual movies to watch rather than subscribing to a broad service offering.
Common Resource
A resource like air or water that is available to all but can be depleted by overuse.
Nonrival
A characteristic of a good or service indicating that one person's consumption does not diminish the availability of that good for consumption by others.
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