Effect of Inventory Errors

During the taking of its physical inventory on December $31,20$Y$3,$ Waterjet Bath Company incorrectly counted its inventory as $$728,660$ instead of the correct amount of $$719,880.$ Indicate the effect of the misstatement on Waterjet Bath's December $31,20Y3,$ balance sheet and income statement for the year ended December $31,20$Y$3.$ Also record the amount of each overstatement or understatement. Enter all amounts as positive numbers.

$\backslash$table$[[$Inventory$,$Balance Sheet $,$Overstated $$