Question: Albert Company discovers in 2017 that its ending inventory at December 31, 2016, was $5,000 understated. What effect will this error have on
(a) 2016 net income,
(b) 2017 net income, and
(c) the combined net income for the 2 years?
The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.