Question 61 pts Sparky, Inc. follows a calendar-year end. Its financial statements for the years 2018 and 2017 contained errors as follows: - Ending Inventory for 2017 was understated by $18,000 . Ending Inventory for 2018 was overstated by $33,000 No correcting entries were made at December 31, 2018. Determine the following: a. Indicate the effect on 2018 Net Income (ignore taxes. Indicate O for Overstated; U for Understated; or NE for No Error. Ifyour answer is overstated by $4,000, record your answer as 04000.) b. Indicate the effect on 2018 Ending Retained Earnings (enter your answer same as above . Effect on 2018 Net Income Effect on Ending Retained Earnings at December 31, 2018