QUESTION 2 Emor Analysis) Peter Henning Tool Company's December 31 year-end financial statements contained the following errors Ending inventory Depreciation expense December 31, 2017 $9,600 understated $2.300 understated December 31, 2018 $8,100 overstated An insurance premium of $66.000 was prepaid in 2017 covering the years 2017, 2018, and 2019. The entire amount was charged to expense in 2017 In addition on December 31, 2018 Auly depreciated machinery was sold for $15.000 cash, but the entry was not recorded until 2015. There were no other errors during 2017 of 2018 and no comections have been made for any of the errors (ignore income tax considerations) Instructions (a) Compute the total effect of the emors on 2018 net income (h) Compute the total effect i) Compute the total effe Anach File of the amors on the amount of Henning's working capital at December 31, 2018 the emors on the balance of Henning's retained earnings at December 31, 2018 Bow Career Cen Click Save and Subs to saw and submit Click See All A 50 points S