needing help asap and i dont know how to solve any of it

Effect of Errors in Physical Inventory Madison River Supply Co sells canoes, kayak, whitewater rotts, and other boating supplies. During the taking counted its inventory as 5641,710 instead of the correct amount of $660,960 its physical inventory on December 31, 2048, Madison incorrectly Enter all amounts as positive numbers 1. State the effects of the error on the December 31, 2018, balance sheet of Madison River Supply Balance Sheet Items Understated/Overstated Amount Inventory Current Assets Total Assets Stockholders' Equity b. State the effects of the error on the income statement of Madison River Supply for the year ended December 31, 2018 Income Statement Items Overstated/Understated Amount Cost of Goods Sold Gross Profit Net Income uncorrected, what would be the effects of the error on the 2049 income statement? Amount Income Statement Items Overstated / Understated Cost of Goods Sold Gross Profit Net Income d. If uncorrected, what would be the effects of the error on the December 31, 2019, balance sheet? 1. The balance sheet would be correct, because the 2048 inventory error reverses itself in 2049. 2. The income for 20y9 would be understated. 3. The current assets in 2049 would be overstated. 4. The current assets in 2049 would be understated