When the records of Aoki Ltd. were reviewed at the close of 2022, 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 2021 and 2022.

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2021 2022 Under- Under- Over- statement statement Effect statement statement Effect No Over- No Item 1. Failure to reflect supplies on hand on statement of financial position at end of 2021. 2. Failure to record the correct amount of ending 2021 inventory. The amount was understated because of an error in calculation. 3. Failure to record, until 2022, merchandise purchased in 2021. Merchandise was also omitted from ending inventory in 2021 but was not yet sold. 4. Failure to record accrued interest on notes payable in 2021; that amount was recorded when paid in 2022. 5. Failure to record amortization of patent in 2022.