Wibber Company prepared income statements that reflected pretax profit of $21,000 for 20A and $30,000 for 20B.An audit has determined that there were two errors in the inventory amounts as follows
The correct pretax profit amount for each year is (show computations assuming the errors were not corrected):
20A: $__________________
20B: $__________________

Question

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The Answer of Wibber Company prepared income statements that reflected pretax profit of $21,000 for 20A and $30,000 for 20B.An audit has determined that there were two errors in the inventory amounts as follows
The correct pretax profit amount for each year is (show computations assuming the errors were not corrected):
20A: $__________________
20B: $__________________

Wibber Company Prepared Income Statements That Reflected Pretax Profit of $21,000