31.4X R. James drew up the following statement of financial nncition an 21 noramher 7017. When checking the books, the following errors and omissions were found. (i) A purchase of fittings, $140, had been included in the purchases account. (ii) Motor vehicles should have been depreciated by $280. (iii) A debt of $41 included in accounts receivable was considered to be bad. (iv) Closing inventory had been overvalued by $124. Required: (a) show your calculation of the correct net profit