Brief Exercise 22-8 Indicate the effect-Understate, Overstate, No Effect-that each of the following errors has on 2017 net income and 2018 net income. 2017 2018 (a) Equipment purchased in 2015 was expensed. (b) Wages payable were not recorded at 12/31/17. (c) Equipment purchased in 2017 was expensed. (d) 2017 ending inventory was overstated. (e) Patent amortization was not recorded in 2018. Click if you would like to Show Work for this question: Open Show Work