Just want to see if you can check my answers before I submit. Not sure I am figuring this question correctly:

Kingbird Tool Company's December 31 year-end financial statements contained the following errors.

December 31, 2017

December 31, 2018

Ending inventory$9,000 understated$8,000 overstatedDepreciation expense$2,300 understated?

An insurance premium of $69,600 was prepaid in 2017 covering the years 2017, 2018, and 2019. The entire amount was charged to expense in 2017. In addition, on December 31, 2018, fully depreciated machinery was sold for $15,900 cash, but the entry was not recorded until 2019. There were no other errors during 2017 or 2018, and no corrections have been made for any of the errors. (Ignore income tax considerations.)(Enter negative amounts using either a negative sign preceding the number e.g. -15,000 or parentheses e.g. (15,000).)

a)Compute the total effect of the errors on 2018 net income.

Total effect of errors on net income$

(b)Compute the total effect of the errors on the amount of Kingbird's working capital at December 31, 2018.

Total effect on working capital$

(c)Compute the total effect of the errors on the balance of Kingbird's retained earnings at December 31, 2018.

Total effect on retained earnings$

If incorrect could you explain what I am doing wrong.

Thank you

Kingbird Tool Company's December 31 year-end financial statements contained the following errors. 31-Dec-17 9,000.00 understated 2,300.00 unserstated Ending Inventory Depreciation Expense 31-Dec-18 8,000.00 An insurance premium of $69,600 was prepaid in 2017 covering the years 2017, 2018, and 2019. The entire amount was charged to expense in 2017. In addition, on December 31, 2018, fully depreciated machinery was sold for $15,900 cash, bu entry was not recorded until 2019. There were no other errors during 2017 or 2018, and no corrections have been made fo of the errors. (Ignore income tax considerations.) (Enter negative amounts using either a negative sign preceding the numb e.g. -15,000 or parentheses e.g. (15,000).) Answer a The total effect of the errors on 2018 net income. Beginning Inventory of 2018 understated Ending Inventory 2018 overstated Insurance expense understated Gain on sale of machinery understated Total effect of errors on Net Income 9100 7800 22400 13700 53000 9000 8000 23200 15900 56100 Net Income of 2018 was overstated by $54800 due to these errors. Answer b The total effect of the errors on the amount of working capital at December 31, 2018. Ending Inventory overstated Prepaid Insurance understated Cash balance understated Total effect on working capital $ 8,000.00 $ (23,200.00) $ (15,900.00) $ (31,100.00) The working capital of 2018 was understated by $-31,100 Answer c The total effect of the errors on the balance of retained earnings at December 31, 2018. Ending Inventory of 2017 understated Beginning Inventory of 2018 understated Ending Inventory 2018 overstated Depreciation expense of 2017 understated Insurance expense of 2017 overstated Insurance expense of 2018 understated Gain on sale of machinery understated Total effect on retained earnings The retained earnings of 2018 understated by $ 1,700 -9000 9000 8000 1000 -46400 23200 15900 1700 rors. 31-Dec-18 overstated 9. The entire amount was as sold for $15,900 cash, but the rections have been made for any ve sign preceding the number #REF! #REF