Nuggets Tool Companys December 31 year-end financial statements contained the following errors. December 31, 2020 December 31, 2021 Ending inventory P9,600 understated P8,100 overstated Depreciation expense P2,300 understated An insurance premium of P66,000 was prepaid in 2020 covering the years 2020, 2021, and 2022. The entire amount was charged to expense in 2020. In addition, on December 31, 2021, fully depreciated machinery was sold for P15,000 cash, but the entry was not recorded until 2022. There were no other errors during 2020 or 2021, and no corrections have been made for any of the errors. (Ignore income tax considerations.) (a) Compute the total effect of the errors on 2021 net income. (b) Compute the total effect of the errors on the amount of Nuggets working capital on December 31, 2021. (c) Compute the total effect of the errors on the balance of Nuggets retained earnings on December 31, 2021.