How would I prepare the journal entry's using only part B?

Tack, Inc., reported a Retained earnings balance of $150,000 at December 31, 2016. In June 2017, Tack's internal audit staff discovered two errors that were made in preparing the 2016 financial statements that are considered material: a. Merchandise costing $40,000 was mistakenly omitted from the 2016 ending inventory. b. Equipment purchased on July 1, 2016, for $70,000 was mistakenly charged to a repairs expense account. The equipment should have been capitalized and depreciated using straight-line depreciation, a 10-year useful life, and $10,000 salvage value. Required: 1. Prepare the journal entry Tack would make in 2017 to correct the errors made in 2016. Assume depreciation for 2017 is made as a year-end adjusting entry. (Ignore taxes.) 2. Describe the content of the comparative periods in Bettner's 2017 financial statements. That is, how is the correction reflected in the 2017 financial report