A companys Dec. 31^st year-end balance sheet showed $72,000 of inventory. The company uses the perpetual inventory system. After reviewing the companys records, the auditor noted the following items which had not been included when calculating this amount because it was not in the warehouse during the physical count:

On Dec. 31^st the company was notified that $12,600 of inventory purchased on account from a wholesaler had been shipped on Dec. 30^th, FOB shipping point. No journal entry recorded.

On Dec. 31^st, inventory costing $5,200 was shipped to a customer in Australia FOB destination. Sales Revenues were recorded at 50% mark-up on cost.

On Dec. 31^st, inventory costing $14,000 was shipped to a customer FOB shipping point. Sales Revenues were recorded at 50% mark-up on cost.

Determine the effect of these errors on the companys financial statements as of Dec. 31, CY

Assets	Liabilities	Equity	Net Income
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