When the records of Aoki Ltd. were reviewed at the close of 2019, the errors listed as follows were discovered. For each item, indicate by a check mark in the appropriate column whether the error resulted in an overstatement, an understatement, or had no effect on net income for the years 2018 and 2019.

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2018 2019 Item Over- Under- No Over- Under- No statement statement Effect statement statement Effect 1. Failure to reflect supplies on hand on statement of financial position at end of 2018. 2. Failure to record the correct amount of ending 2018 inventory. The amount was understated because of an error in calculation. 3. Failure to record, until 2019, merchandise purchased in 2018. Merchandise was also omitted from ending inventory in 2018 but was not yet sold. 4. Failure to record accrued interest on notes payable in 2018; that amount was recorded when paid in 2019. 5. Failure to record amortization of patent in 2019.