Question: For the following errors, indicate the combined effect on the indicated financial statement items 2015 Ending Inventory was understated $500. Wages Payable of $2,000 were

For the following errors, indicate the combined effect on the indicated financial statement items 2015 Ending Inventory was understated $500. Wages Payable of $2,000 were not accrued at 12/31/15. Select one: 2015 Net Income Overstated 12/31/15 Working Capital Overstated 2015 Net Income Understated 12/31/15 Working Capital 2015 Net Income Overstated 12/31/15 Working Capital Understated 2015 Net Income No Error 12/31/15 Working Capital Overstated 2015 Net Income Understated 12/31/15 Working Capital Understated

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