The World Company's financial statements for 20X2 and 20X1 contain the following errors: Ending Inventory Insurance Expense Multiple Choice O If no correcting entries were made at the end of 20X1, how much will retained earnings be overstated or understated at the end of 20X2? (Ignore Income tax.) O O $2,000 understated $2,000 overstated $10,000 understated 20X2 $10,000 overstated 20X1 $6,000 overstated. $16,000 overstated $4,000 understated $12,000 overstated

The World Company's financisi statements for 202 and 201 contain the followng ertors Martiplechoict $2000 understated \$2000 oventgico S10000 undenated 50000 oveistated