The reported net incomes for the first 2 years of Sunland Products, In


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The reported net incomes for the first 2 years of Sunland Products, Inc., were as follows: 2017, $155,500; 2018, $188,100. Early in 2019, the following errors were discovered. 1.Depreciation of equipment for 2017 was overstated $15,900.2.Depreciation of

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The reported net incomes for the first 2 years of Sunland Products,
Inc., were as follows: 2017, $155,500; 2018, $188,100. Early in 2019, the following errors were discovered.

1.Depreciation of equipment for 2017 was overstated $15,900.2.Depreciation of equipment for 2018 was understated $37,500.3.December 31, 2017, inventory was understated $48,400.4.December 31, 2018, inventory was overstated $15,800.
the correcting entry necessary when these errors are discovered?

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