81. Langley Company's December 31 year-end financial statements contained the following errors: An insurance premium of $90,000 was prepaid in 2023, covering the years 2023,2024 , and 2025. The prepayment was recorded with a debit to insurance expense. In addition, on December 31,2024 , fully depreciated machinery was sold for $47,500 cash, but the sale was not recorded until 2025 . There were no other errors during 2024 or 2025 , and no corrections have been made for any of the errors. Ignore income tax considerations. What is the total effect of the errors on the balance of Langley's retained earnings at December 31, 2024? 81. Langley Company's December 31 year-end financial statements contained the following errors: An insurance premium of $90,000 was prepaid in 2023, covering the years 2023,2024 , and 2025. The prepayment was recorded with a debit to insurance expense. In addition, on December 31,2024 , fully depreciated machinery was sold for $47,500 cash, but the sale was not recorded until 2025 . There were no other errors during 2024 or 2025 , and no corrections have been made for any of the errors. Ignore income tax considerations. What is the total effect of the errors on the balance of Langley's retained earnings at December 31, 2024