Ivanhoe Inc. began operations on January 1, 2022. Financial statements for 2022 and 2023 contained the following errors: Dec. 31, 2022 Dec. 31, 2023 Ending inventory $32000 too high $38000 too low Depreciation expense 21000 too high Insurance expense 15000 too low 15000 too high Prepaid insurance 15000 too high In addition, on December 31, 2023 fully depreciated equipment was sold for $7600, but the sale was NOT recorded until 2024. No corrections have been made for any of the errors. Ignore income tax considerations. The total effect of the errors on Ivanhoe's working capital at December 31, 2023 is that working capital is understated by $98600. $45600. $34600. $77600