Navajo Company$$s year$-$end financial statements show the following. The company recently discovered that in making physical counts of inventory, it had made the following errors: Year $1$ ending inventory is understated by $$52,000$ and Year $2$ ending inventory is overstated by $$22,000.$

For Year Ended December $31$ Year $1$ Year $2$ Year $3$

$($a$)$ Cost of goods sold $ $727,000$ $ $957,000$ $ $792,000$

$($b$)$ Net income $270,000277,000252,000$

$($c$)$ Total current assets $1,249,0001,362,0001,232,000$

$($d$)$ Total equity $1,389,0001,582,0001,247,000$

Required:

For each key financial statement figure$($a$),($b$),($c$),$ and $($d$)$ above$$prepare a table to show the adjustments necessary to correct the reported amounts.

What is the total error in combined net income for the three$-$year period resulting from the inventory errors?