Information:
$\begin{array}{rrr}& \text { Net Income } & \text { Error in } \
\text { Year } & \text { per Books } & \text { Ending Inventory } \
2010 & \$ 75,000 & \$ 2,000 \text { Overstatement } \
2011 & 54,000 & 2,800 \text { Understatement } \
2012 & 96,000 & 1,900 \text { Overstatement }
\end{array}$ Required:
Assuming that no corrections were made in any year, compute the correct income for each of the three years.

Question

Information:
 $\begin{array}{rrr}& \text { Net Income } & \text { Error in } \
\text { Year } & \text { per Books } & \text { Ending Inventory } \
2010 & \$ 75,000 & \$ 2,000 \text { Overstatement } \
2011 & 54,000 & 2,800 \text { Understatement } \
2012 & 96,000 & 1,900 \text { Overstatement }
\end{array}$ Required:
Assuming that no corrections were made in any year, compute the correct income for each of the three years.

Quizplus · Accepted Answer

The Answer of Information:
 $\begin{array}{rrr}& \text { Net Income } & \text { Error in } \
\text { Year } & \text { per Books } & \text { Ending Inventory } \
2010 & \$ 75,000 & \$ 2,000 \text { Overstatement } \
2011 & 54,000 & 2,800 \text { Understatement } \
2012 & 96,000 & 1,900 \text { Overstatement }
\end{array}$ Required:
Assuming that no corrections were made in any year, compute the correct income for each of the three years.

Information Required: Assuming That No Corrections Were Made in Any Year

Information Required:
Assuming That No Corrections Were Made in Any Year