can yall explain please thank you

BALI PLUS 22.9 Example 3 Joseph Co. began operations on January 1, 2020. Financial statements for 2020 and 2021 contained the following errors: December 31, 2020 December 31, 2021 Ending Inventory $80,000 Overstated $114,000 Overstated Insurance Expense 42,000 Overstated 42,000 Understated IN TNB WY In addition, on December 26, 2021 fully depreciated equipment was sold for $53,000, but the sale was not recorded until 2022. No corrections have been made for any of the errors. * w us ty 1 UN 1 8 5 1910 4 Required: Ignoring income taxes, show your calculation of the total effect of the errors on 2021 net income. 2020 2021 cotas BD 000 OU 221 BEL CIRE NEM