In reviewing the accounts in 2009 after the books for the prior year have been closed, you find that the following errors have been made: $126,000 $19,500 $6,000 In 2007 the ending inventory was understated by In 2007 the company failed to accrue rent expense of In 2008 the company failed to accrue insurance expense of REQUIRED: Ignoring taxes, determine what amount, if any, net income and retained earning would be over or under stated in 2007 and 2008 as a result of these errors. Show your calculations and clearly label your answers