Bramble Tool Company's December 31 year-end financial statements contained the following errors Ending inventory December 31, 2025 $8.600 understated December 31, 2026 $7,600 overstated Depreciation expense 2.200 understated An insurance premium of $63,000 was prepaid in 2025 covering the years 2025, 2026, and 2027. The entire amount was charged to expense in 2025. In addition, on December 31, 2026, fully depreciated machinery was sold for $15,900 cash, but the entry was not recorded until 2027. There were no other errors during 2025 or 2026, and no corrections have been made for any of the errors Ignore income tax considerations) (c) Your answer is partially correct. Compute the total effect of the errors on the balance of Bramble's retained earnings at December 31, 2026. Total effect on retained earnings $ eTextbook and Media Save for Later understated Attempts: 1 of 3 used Submit