Beta Company started the year with a balance of zero supplies.It bought supplies of $1,290 during the period but erroneously recorded the purchase as $1029. All of the supplies were consumed during the period of purchase.As a result of the recording error net income for the period will be overstated

Required 1:By how much is the net income overstated? $

Required 2: What is the year end balance of the supplies account? $