Carlos Verde owns a small nursery.He recently approached the local bank for a loan to finance an expansion of his nursery.Carlos prepared the balance sheet given below and submitted it with his loan application.The balance sheet does not conform to generally accepted accounting principles.Using the additional information provided by the owner,prepare a corrected balance sheet in accordance with generally accepted accounting principles.

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The Answer of Carlos Verde owns a small nursery.He recently approached the local bank for a loan to finance an expansion of his nursery.Carlos prepared the balance sheet given below and submitted it with his loan application.The balance sheet does not conform to generally accepted accounting principles.Using the additional information provided by the owner,prepare a corrected balance sheet in accordance with generally accepted accounting principles.

Carlos Verde Owns a Small Nursery