Powell Company had the following errors over the last two years: 2019: Ending inventory was overstated by $58,500 while depreciation expense was overstated by $24,300. 2020: Ending inventory was understated by $13,500 while depreciation expense was understated by $6,000. By how much should retained earnings be adjusted on January 1, 2021? (Ignore taxes) Increase by $45,000. Decrease by $34,300. Decrease by $31,800. Increase by $31,800