Example: A firm neglected to record a payment to a supplier of $10,000 for previously recorded accounts payable. If this mistake was corrected, the effects on the following accounts would be: Current Assets (-) 10,000 Long-term assets NE Current Liabilities (-) 10,000 Long-term liabilities NE Common Stock NE Retained Earnings NE Net Income NE b) The Company reflected total salaries of $28,000 for the last two weeks in December as selling, general and administrative expenses. 70% of the salaries for this period related to workers at the production facility with the remaining 30% covering administrative and sales staff. All of the inventory in production during the last two weeks in December was still in the production line at December 31, 2006. If the salaries costs had been properly recorded, what would be correct amounts for the following line items? Current assets? WIP inventory? Cost of goods sold? Net income? Total shareholders' equity