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Given the following Ending Inventory errors for the Portland Company: Indicate the error in 2017 Net Income and 12/31/17 Retained Earnings: Select one: a. Net

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Given the following Ending Inventory errors for the Portland Company: Indicate the error in 2017 Net Income and 12/31/17 Retained Earnings: Select one: a. Net Income Overstated $10, Retained Earnings Understated $30 b. Net Income Understated $70, Retained Earnings Understated $30 c. Net Income Understated $10, Retained Earnings Overstated $10 d. Net Income Understated $70, Retained Earnings Overstated $30 e. Net Income Overstated $10, Retained Earnings Understated $10

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