Exercise $5\mathrm{.}4($Algo$)$ Correcting net income. LO $5-2$

Assume that a firm reports net income of $$75,000$ prior to making adjusting entries for the following items: expired rent, $$5,500$; depreciation expense, $$6,700$; and supplies used, $$2,100.$

Assume that the required adjusting entries have not been made. What effect do these errors have on the reported net income?