5 Question 30 (12 points) GHI Limited uses a periodic inventory system and makes the following errors during the 2020 fiscal year. GHI has a December 31 year end. For each error below, state whether each of the following accounts is understated, not impacted, or overstated, for the 2021 fiscal year: ending inventory, cost of goods sold, net income, and retained earnings. Each error is an independent case. Within each independent case, assume the error is the only error that is made and no other errors are made. a. Ending inventory for 2020 was overstated. b. Ending inventory for 2020 and purchases for 2020 were understated by the same amount. The purchase was recorded in 2021. c. A purchase on account in 2020 should have been recorded in 2020 but was not. It was recorded in 2021. (Note: You must state the impact on all four accounts for each of the three independent cases, i.e., your response should have 12 total statements)