Bishop Co$.$ began operations on January $1,2017.$ Financial statements for $2017$ and $2018$ con$-$ tained the following errors:

Dec. $31,2017$ Dec. $31,2018$

Ending inventory $$198,000$ overstated $$219,000$ understated

Depreciation expense $126,000$ overstated $$

Insurance expense $90,000$ understated $60,000$ overstated

Prepaid insurance $90,000$ overstated $$

In addition, on December $31,2018$ fully depreciated equipment was sold for $$43,200,$ but the sale was not recorded until $2019.$ No corrections have been made for any of the errors. Ignore income tax considerations.

$4.$ The total effect of the errors on the amount of Bishop's working capital at December $31,2018$ is understated by

A$)$ $$586,200.$

B$)$ $$460,200.$

C$)$ $$262,200.$

D$)$ $$172,200.$