Question: I need explanation on how to get this answer! Q8.100: The following errors were discovered for the 2017and 2016financial statements for Tovon, Inc., a calendar-year

I need explanation on how to get this answer!

I need explanation on how to get this answer! Q8.100: The

Q8.100: The following errors were discovered for the 2017and 2016financial statements for Tovon, Inc., a calendar-year corporation 2017 2016 Ending inventory $6,000 overstated $16,000 overstated Depreciation expense $4,000 understated $12,000 overstated If no correcting entries were made at December 31, 2016, and income taxes are not considered, the retained earnings at December 31, 2017will be A $18,000 understated. B15,000 understated. $15,000 overstated. 2,000 understated

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