incorrectly counted its inventory as $673,720 instead of the correct amount of 5693,930. Enter all amounts as positlve numbers. a. State the elfects of the error on the December 31, 20y8, balance sheet of Madison Rlver Supply: c. If uncorrected, what would be the effects of the error on the 20 Y 9 income statement? d. If uncorrected, what would be the effects of the error on the December 31,20y9, balance sheet? 1. The balance sheet would be correct, because the 20Y inventory error reverses itself in 20Y9. 2. The income for 20r9 would be understated. 3. The current assets in 209 would be overstated. 4. The current assets in 20Y9 would be understated