Show how the following independent errors will affect net income on the Income Statement and the stockholders - (minus) for understated, and equity section of the Balance Sheet using the symbol + (plus) for overstated, (zero) for no effect. 2016 2017 Income Balance Income Balance Statement Sheet Statement Sheet 1. Ending inventory in 2016 overstated. 2. Failed to accrue 2016 interest revenuw. The total cost of an equipment (Useful life, 5 years) was incorrectly expensed in 2016. 3. 4. Understated 2016 depreciation expense , 2017 depreciation expense correct