Powell Company had the following errors over the last two years: 2019. Ending inventory was overstated by $36,000 while depreciation expense was overstated by $24,100. 2020: Ending inventory was understated by $14,000 while depreciation expense was understated by $4,200. By how much should retained earnings be adjusted on January 1, 2021? (ignore taxes) Decrease by $33,900. Increase by $22,000. Increase by $33,900. Decrease by $12,200