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USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT TWO QUESTIONS. Upton Corp. understated the cost of its inventory on 12/31/23 by $50,000. Its physical inventory count was correct in the subsequent year, 2024. 9. As a result of the 2023 error, what will be the effect on Upton's cost of goods sold, net income, inventory, and retained earnings balances at the end of 2023 ? Ignore tax effects. 10. Assuming the error from 2023 was never corrected, what will be the effect on Upton's cost of goods sold, net income, inventory, and retained earnings balances at the end of 2024 (the subsequent year)? Ignore tax effects