PLEASE GIVE ME ALL BLANKS AND CLEARLY SHOW WHERE THEY SHOULD BE PUT. Effect of errors in physical inventory

Enter all amounts as positive numbers.

a$.$ State the effects of the error on the December $31,20$Y$8,$ balance sheet of Madison River Supply.

b$.$ State the effects of the error on the income statement of Madison River Supply for the year ended December $31,20$ Y $8.$

Income Statement

Items Overstated$/$Understated Amount

c$.$ If uncorrected, what would be the effects of the error on the $20$ Yg income statement?

d$.$ If uncorrected, what would be the effects of the error on the December $31,20Y9,$ balance sheet?

The balance sheet would be correct, because the $20$ Y $8$ inventory error reverses itself in $20$ Y $9.$

The income for $20$ Y $9$ would be understated.

The current assets in $20$ Y $9$ would be overstated.

The current assets in $20$ Y $9$ would be understated.