Wilmington Company reported pretax income of $25,000 during 2018 and $30,000 during 2019.Later it was discovered that the ending inventory for 2018 was understated by $2,000 (and not corrected in 2018).What is the correct pretax income for each year?

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The Answer of Wilmington Company reported pretax income of $25,000 during 2018 and $30,000 during 2019.Later it was discovered that the ending inventory for 2018 was understated by $2,000 (and not corrected in 2018).What is the correct pretax income for each year?

Wilmington Company Reported Pretax Income of $25,000 During 2018 and $30,000