Condensed income statements for Swift Corporation are shown below for two years. Compute the corrected net income for 2013 and 2014 assuming that the inventory as of the end of 2013 was mistakenly understated by $7,000.
2013 $ __________ 2014 $__________

Question

Condensed income statements for Swift Corporation are shown below for two years.  Compute the corrected net income for 2013 and 2014 assuming that the inventory as of the end of 2013 was mistakenly understated by $7,000.
2013 $ __________ 2014 $__________

Quizplus · Accepted Answer

The Answer of Condensed income statements for Swift Corporation are shown below for two years.  Compute the corrected net income for 2013 and 2014 assuming that the inventory as of the end of 2013 was mistakenly understated by $7,000.
2013 $ __________ 2014 $__________

Condensed Income Statements for Swift Corporation Are Shown Below for Two