The reported net incomes for the first $2$ years of Indigo Products, Inc., were as follows: $2025,$$$134,800$;$2026,$$$172,600.$ Early in

$2027,$ the following errors were discovered.

Depreciation of equipment for $2025$ was overstated $$17,600.$

Depreciation of equipment for $2026$ was understated $$38,000.$

December $31,2025,$ inventory was understated $$47,700.$

December $31,2026,$ inventory was overstated $$15,800.$

Prepare the correcting entry necessary when these errors are discovered. Assume that the books are closed. $($Ignore income tax

considerations.$)($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no

entry is required select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit

entries.$)$