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Given the following Ending Inventory errors for the Portland Company: Year 2020 Ending Inventory Error Overstated $40 Understated $30 2021 Indicate the error in the

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Given the following Ending Inventory errors for the Portland Company: Year 2020 Ending Inventory Error Overstated $40 Understated $30 2021 Indicate the error in the following items: Select one: a. 2021 Net Income 12/31/21 Retained Earnings Understated $10 Understated $10 Ob. 2021 Net Income 12/31/21 Retained Earnings Overstated $10 Overstated $10 C. 2021 Net Income 12/31/21 Retained Earnings Understated $30 Understated $10 d. 2021 Net Income 12/31/21 Retained Earnings Understated $30 Understated $30 e. 2021 Net Income 12/31/21 Retained Earnings Understated $70 Understated $30

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