EX 6-18 Effect of errors in physical inventoryKickstand Motorcycle Shop sells mo

EX 6-18 Effect of errors in physical inventoryKickstand Motorcycle Shop sells motorcycles ATVs and other related supplies and accessories.During the taking of its physical inventory on December 31 2014 Kickstand Motorcycle Shop incorrectly counted its inventory as $640500 instead of the correct amount of $618900.a. State the effect of the error on the December 31 2014 balance sheet of Kickstand Motorcycle Shop.b. State the effect of the error on the income statement of Kickstand Motorcycle Shop for the year ended December 31 2014.c. If uncorrected what would be the effect of the error on the 2015 income statement?d. If uncorrected what would be the effect of the error on the December 31 2015 balance sheet?