During 2016, Paul Company discovered that the ending inventories reported on its financial statements were incorrect by the following amounts: 2014 $60,000 understated 2015 75,000 overstated Prior to any adjustments for these errors and ignoring income taxes, Pauls retained earnings at December 31, 2016, would be: a) Correct b) $15,000 overstated c) $15,000 understated d) $135,000 overstated e) $75,000 overstated And Why??