Required: Determine the net effect of these errors on the following items. Indicate the dollar amount of the error and the direction of the error. (Example: $17 overstated, or $12 understated, or NO ERROR) a) Net Income s b) Total Liabilities $ c) Total Assets $ d) Retained Earnings $ Required: Determine the net effect of these errors on the following items. Indicate the dollar amount of the error and the direction of the error. (Example: $17 overstated, or $12 understated, or NO ERROR) a) Net Income s b) Total Liabilities $ c) Total Assets $ d) Retained Earnings $