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3. Lumber Company's auditors were auditing its Financial Statements and had the following observations. 2020 2021 Ending inventory Overstated $12,000 Understated $18,000 $14,000 Depreciation

3. Lumber Company's auditors were auditing its Financial Statements and had the following observations. 2020 2021 Ending inventory Overstated $12,000 Understated $18,000 $14,000 Depreciation expense $24,000 Overstated Overstated Assuming that none of the above errors were detected or corrected, by what amount will retained earnings at December 31, 2021 be misstated?

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