The income statement of ABC Company for two years is as follows: 2018 2017 Sales 204,000 220,000 Cost of Goods Sold 100,000 116,000 Gross Margin 104,000 104,000 Operating Expense 80,000 80,000 Income before income taxes 24,000 24,000 An error resulting in understatement of ending inventory of 2017 by $26,000 was discovered at the end of 2018. a. Determine the income for 1. 2017 and ii. 2018 after making the corrections. b. How will the error affect the company's operating income and its equity for 2019? Respond in 1 for Increase, D for Decrease, and NE for No Effect. a.i. a.ii. b