23 Given the following Ending Inventory errors for the Portland Company: Year of Ending Inventory Error 2020 2021 Understated $30 Overstated $40 Indicate the error in the following items: a. 2022 Net Income Understated $40 b. 2022 Net Income Understated $40 C. 2022 Net Income No error d. 2022 Net Income No error 2022 Net Income No error 12/31/21 Retained Earnings Overstated $40 12/31/21 Retained Earnings Overstated $40 12/31/21 Retained Earnings Overstated $40 12/31/21 Retained Earnings No error 12/31/21 Retained Earnings Understated $40