Caicuiato Effect of Errors in Physicall Inventory Fonda Motorcydle Shop sells motorcycles, ATVs, and other related supplies and accessories. During the taking of its physical inveetory on December 31, 20Y8, Foeda Motorcydle Shop incorredtly counted its ienwentory as $286,790 instead of the correct amoust of $275,320. Enter all amounts as pesitive numbers. a. State the effect of the error on the December 31, 20Y8, balance sheet of Fonda Motorcycle Shop Amount Merchandise Invetory Current Assets Total Assets Owner's Equity b. State the effect of the error on the income stabement of Fonda Motoecydle Shop for the year ended December 31, 20Y8. Overstated/ Understated Co of Merchandise Sold c. ncorrected, what would be the effect of the enor on the 2019 income seatement, Income Statement Items Understeted/ Overstated