The reported net incomes for the first 2 years of us books corp. were as follow: 2017, $388,000, and 2018 $472,000. early in 2019 the following errors were discovered

1. depreciation of equipment for 2017 was understated $72,500

2. depreciation of equipment for 2018 was overstated $41,000

3. December 31,2017, inventory was overstated $13,000

4. December 31,2018, inventory was understated $63,600

prepare the correcting entry necessary when these errors are discovered. Assume that the 2018 books are still open.