Indicate the effect-Understate, Overstate, No Effect - that each of the following errors has on 2014 net income and 2015 net income.

2014 2015

(a) Equipment purchased in 2012 was expensed. ____ ___

(b) Wages payable were not recorded at 12/31/14. ____ ___

(c) Equipment purchased in 2014 was expensed. ____ ___

(d) 2014 ending inventory was overstated. ____ ___

(e) Patent amortization was not recorded in 2015. ____ ___