Final answer:
The text has three apostrophe errors which need correction: 'Shellys' should be 'Shelly's', 'Its going' should be 'It's going to', and 'age's until' should be 'ages until'. After making these corrections, the text will properly use apostrophes to indicate possession and form contractions.
Step-by-step explanation:
The text given for proofreading requires corrections for the appropriate use of apostrophes in showing possession or forming contractions. Let's address the three apostrophe errors in the text one by one:
- The possessive form of 'Shellys' should have an apostrophe before the 's', making it 'Shelly's generation' to indicate that it is the generation of Shelly.
- The contraction for 'it is' should have an apostrophe, changing 'Its' to 'It's going to be ages'.
- The last error is in the phrase 'age's until', where the apostrophe is incorrectly used to make 'ages' possessive when it should be the plural form. The correct phrase should be 'ages until', without an apostrophe.
Once the apostrophe errors are corrected, the relevant portions of the text should read as follows:
- Like many young adults in Shelly's generation...
- But I'm really paying for it now.
- It's going to be ages until I've paid off all my purchases.