The before-tax income for Wildhorse Corp. for 2022 was $117,700; for 2023, it was $77,700. However, the accountant noted that the following errors had been made: 1. Sales for 2022 included $38,300 that had been received in cash during 2022, but for which the related products were delivered in 2023. Title did not pass to the purchaser until 2023. 2. Ending inventory on December 31, 2022, was understated by $8,750. The December 31, 2023 ending inventory has not yet been adjusted to the Inventory account. Assume that Wildhorse has a periodic inventory system and that no adjustment has been made to the opening balance of the Inventory account. 3. The bookkeeper, in recording interest expense for both 2022 and 2023 on bonds payable, made the following entry each year: Interest Expense Cash 12,500 12,500 4. The bonds have a face value of $250,000 and pay a stated interest rate of 5%. They were issued at a discount of $12,500 on January 1, 2022, to yield an effective interest rate of 6%. (Use the effective interest method.) Ordinary repairs to equipment had been charged in error to the Equipment account during 2022 and 2023. In total, repairs in the amount of $9,500 in 2022 and $9,000 in 2023 were charged in this way. The company uses the declining-balance method and applies a rate of 10% in determining its depreciation charges. Wildhorse applies IFRS.