The Mace Company fails to record these Journal Entries Paid wages previously accrued $14 Accrued Revenue $40 Issued Common Stock for Cash $30 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 c) Total Assets $ d) Retained Earnings