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Nicks Company had the following errors over the last two years: 2020: Depreciation expense was overstated by $24,000. 2021: Ending inventory was understated by

Nicks Company had the following errors over the last two years: 2020: Depreciation expense was overstated by $24,000. 2021: Ending inventory was understated by $10,000. By how much should retained earnings be adjusted on January 1, 2022? (Ignore taxes) Decrease by $34,000. Increase by $34,000. Increase by $14,000. O Decrease by $14,000.

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