Damon Davis was working on the Drano Plumbing Company's spreadsheet. He estimated a $50,000 net profit. When he added up the column totals on the Balance Sheet, the totals were $400,000 for debit and...

Damon Davis was working on the Drano Plumbing Company's spreadsheet. He estimated a $50,000 net profit. When he added up the column totals on the Balance Sheet, the totals were $400,000 for debit and $300,000 for credit. What was the most likely reason for the disparity? What should he do if this was not the problem?