Show how the following independent errors will affect net income on the Income Statement and the stockholders' equity section of the Balance Sheet using the template shown below the questions. Use the symbol + (plus) for overstated, (minus) for understated, and 0 (zero) for no effect for each of the four columns shown for 2008 and 2009. If you dont want to cut and paste the template in your answer document, you can just type the words after each of the transaction numbers for each column such as: 2008 Income Statement Decreases and Balance sheet has no affect. Each transaction will require four answers regardless of how you choose to provide your answers. 2008 2009__ Income Balance Income Balance Statement Sheet Statement Sheet 1. Ending inventory in 2008 overstated. 2. Failed to accrue 2008 interest revenue. 3. A capital expenditure for factory equipment (useful life, 5 years) was erroneously charged to maintenance expense in 2008. 4. Failed to count office supplies on hand at 12/31/08. Cash expenditures have been charged to an office supplies expense account during the year 2008. 5. Failed to accrue 2008 wages. 6. Ending inventory in 2008 understated. 7. Overstated 2008 depreciation expense; 2009 expense correct