Section Three (4 points) The Mace Company fails to record these Journal Entries $50 $30 $17 Cash dividend declared Expiration of Prepaid Insurance Purchase of Supplies on Credit 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 $ b) Total Liabilities $ Total Assets c) Retained Earnings $ d)