While preparing for the year end on July 31,2020 , the following errors, reflected in the data above, oceurred: 1. When counting the year-end inventory, staff members counted items costing $5.ooo twice. The company's accountants included this overstatement in the 2020 year-end Inventory account. Staff counted the inventory correctly on Jnly 31,2021. 2. Allas purchased $15,000 of goods from a supplier on July 30,2020 , with shipping terms FOB shipping point. The company did not receive the goods until August 4, 2020, at which time the aceountunt recorded the purchase. Instruetions a. Assume that, just before recording the elosing entries for the 2020 year end, you discowered the two errors described above. Provide a jourual entry to eotrect eaeh error. b. For each of the three yeats, prepare both incorrect and corrected statements of income through to income be fore income tax. c. What is thue combined (total) impact of these errors on retained earnings (ignoring any income tax effects) for the three years before correction? After correction