Peter Henning Tool Company's December 31 year-end financial statement contained the following errors An insurance premium of $48,600 was prepared in 2014 converting the years 2014, and 2016. The entire amount was charged to expense in 2014. In addition, on december31, 2015; fully depreciated machinery was sold for $16,580 cash, but the entry was not recorded until 2016. There were no other errors during 2014 or 2015, and no corrections have been made for any of the errors. (Ignore income tax considerations.) (a) Compute the total effect of the errors on 2015 net income. (b) Compute the total effect of the errors on the amount Henning's working capital at December31, 2015. (c) Compute the total effect of the errors on the balance of Henning's related earnings at December 31, 2015