The reported net incomes for the first 2 years of Shamrock Products, Inc., were as follows: 2017, $146,400; 2018, $187,600. Early in 2019, the following errors were discovered.

1.		Depreciation of equipment for 2017 was overstated $18,200.
2.		Depreciation of equipment for 2018 was understated $40,600.
3.		December 31, 2017, inventory was understated $49,300.
4.		December 31, 2018, inventory was overstated $16,000.