Sales Cost of goods Gross profit Expenses Net income Sales Cost of goods Gross profit Expenses Net income sold sold What is the effect of the error on ending owner's equity for and $100,000 57000 43000 26000 17000 2@X4 $109,000 79000 22000 8000 After considering this the profits in 20X3 will be more and in 20X4 is less by $5000