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71. Armstrong Inc. is a calendar-year corporation. Its financial statements for the years ended 12/31/23 and 12/31/24 contained the following errors: Assume that no correcting

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71. Armstrong Inc. is a calendar-year corporation. Its financial statements for the years ended 12/31/23 and 12/31/24 contained the following errors: Assume that no correcting entries were made at 12/31/23, or 12/31/24. Ignoring income taxes, by how much will retained earnings at 12/31/24 be overstated or understated

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