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Show how the following independent errors will affect net income on the Income Statement and the stockholders' equity section of the Balance Sheet using the symbol + (plus) for overstated, - (minus) for understated, and 0 (zero) for no effect. 2020 2021 Income Statement Balance Sheet Income Statement Balance Sheet 1. Ending inventory in 2020 overstated. 2. Failed to accrue 2020 interest revenue. > > 3. A capital expenditure for factory equipment (useful life, 5 years) was erroneously charged to Maintenance Expense in 2020. > > 4. Failed to count office supplies on hand at 12/31/20. Cash expenditures have been charged to Supplies Expense during the year 2020. 7. Overstated 2020 depreciation expense; 2021 expense correct Save for Later Attempts: 0 of 1 used Submit