Errors: Why Me? Wonka Inc. showed income before taxes for 2023 of $101,000; for 2022, it was $77,400. However, Oompa Loompa Chartered Accountants reported the following errors had been made: - Sales for 2022 included $38,200 that had been received in cash during 2022, but for which the related products were delivered in 2023. Title will not be passed to the purchaser until 2023. - Ending inventory on December 31, 2022, was understated by $8,640. December 31,2023 , ending inventory has not yet been adjusted to the Inventory account. Assume that Wonka's has a periodic inventory system and that no adjustment has been made to the opening balance of the Inventory account. - The bookkeeper, in recording interest expense for both 2022 and 2023 on bonds payable, made the following entry each year: The bonds have a face value of $250,000 and pay a stated interest rate of 6%. They were issued at a discount of $15,000 on January 1,2022 , to yield an effective interest rate of 7%. (Use the effective interest method.) - Ordinary repairs to equipment had been charged in error to the Equipment account during 2022 and 2023. In total, repairs in the amount of $8,500 in 2022 and \$9,400 in 2023 were charged in this way. The company uses the declining balance method and applies a rate of 10% in determining its depreciation charges. - Assume that Wonka Inc. applies IFRS. The work has been assigned to you and you need to remember the steps, which should include preparing a schedule showing the calculation of corrected income before tax for 2022 and 2023. Once this is completed, your next step is to prepare the journal entries for 2023. You can assume the books are still open and you can ignore income tax effects at this point. Finally, you need to also consider what an investor may think considering these error's and include an opinion on the quality of SPI-W Inc.'s earnings reported in 2022 and 2023