Q10 Potet Amold Company's December your end fancial statements contained the following Athree year in curance premum of 57.200 was prepaid in 2004 covering the years 2004-2026. The prepayent was recorded with a debitore on December 2014 Deprecated machinery was sold for $1.000 cl, but the sale corded until 2025. No corrections have been made for any of the What is the total net effect of the error on Arnold's 2024 net income? 100 P Select one OaNet income understated by 56.200 Net income understated try $1,400 cNet income overstated by $1.000 de income understated by $8.600 OeNet Income understated by S1000 11 Note wird Por out of 100 Tegur Amolt Company December 31 year and financial statements contained the following on Athero-persurance premium 5.200 was prepaid h 2024 cover the years 2004-2006. The prepayment was recorded with debitore, Wation.com December 21, 2024, 1.8 deprecated machinery was sold for 30th, but the sale was not recorded unta 2035. No conections have been made for any of the mos What is the total effect of the errons on the balance of Amolds retained earrings at December 11.2004 Select one O Retained ning understated by 56700 Retained earning understated by $1,000 c. Metained earnings understated by 5.600 O detained earnings overstated by $1,400 we Retained caringsunderstated by $1400