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Splish Tool Company's December $31$ year$-$end financial statements contained the following errors.

An insurance premium of $$63,300$ was prepaid in $2020$ covering the years $2020,2021,$ and $2022.$ The entire amount was charged to

expense in $2020.$ In addition, on December $31,2021,$ fully depreciated machinery was sold for $$16,100$ cash, but the entry was not

recorded until $2022.$ There were no other errors during $2020$ or $2021,$ and no corrections have been made for any of the errors.

$($Ignore income tax considerations.$)$

$($a$)$ Compute the total effect of the errors on $2021$ net income.

Total effect of errors on net income $

$($b$)$ Compute the total effect of the errors on the amount of Splish's working capital at December $31,2021.$

Total effect on working capital $

$($c$)$ Compute the total effect of the errors on the balance of Splish's retained earnings at December $31,2021.$

Total effect on retained earnings $

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