14. The 2017 and 2018 financial statements of Tomato Inc. contained the following errors: Ending inventory Insurance expense 2017 $10,000 overstated 4,800 understated 2018 $16,000 understated 2,600 overstated Assuming that none of the errors were detected or corrected, by what amount will 2017 income before taxes be overstated or understated? a. $14,800 overstated b. $14,800 understated c. $5,200 understated d. $5,200 overstated 15. The statement of changes in shareholders' equity a. is a required statement under ASPE b. is a required statement under IFRS. 13 C. is a required statement under both IFRS and ASPE. d. is an optional statement under both IFRS and ASPE. 16. Which of the following is a required disclosure in the income statement when reporting the disposal of a segment of the business? a. Earnings per share from both continuing operations and net income should be disclosed on the face of the statement or in the notes. b. The gain or loss on disposal should not be segregated but should be reported together with the results of continuing operations. C. The gain or loss on disposal should be reported as an unusual item. d. Results of operations of a discontinued segment should be disclosed immediately below other irregular items