PLEASE HELP ASAP!!!

Effect of Errors in Physical inventory Fonda Motorcycle Shop sells motorcycles, ATVs, and other related supplies and accessoriesDuring the taking or its physical inventory on December 31, 201, Fonda incorrectly counted its inventory 01 $330,060 instead of the correct amount of $316,860, Enter all amounts as positive numbers State the effects of the error on the December 31, 201, balance sheet of Fonda Motorcycle Shop Balance Sheet Items Overstated / Understated Amount Inventory Current Assets Total Assets Stockholders' Equity b. State the effects of the error on the income statement of Fonda Motorcycle Shop for the year ended December 31, 2071 Income Statement Items Overstated / Understated Amount Cost of Goods Sold Gross Pront Net Income c. It uncorrected, what would be the effects of the error on the 2072 income statement? Income Statement Items Understated / Overstated Amount Cost of Goods Sold !!! Gross Profit Net Income d. If uncorrected, what would be the effects of the error on the December 31, 2012, balance sheet? 1. The December 31, 20Y2, balance sheet would be correct, since the 2011 inventory error reverses itself in 2012 2. In the December 31, 2012, balance sheet inventory would be understated 3. In the December 31, 2012, balance sheet, Inventory would be overstated 4. In the December 31, 2012, balance sheet, retained earnings would be understated.