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At Sunland Company, events and transactions during 2017 included the following. The tax rate for all items is 40%. (1) Depreciation for 2017 was found
At Sunland Company, events and transactions during 2017 included the following. The tax rate for all items is 40%.
(1) Depreciation for 2017 was found to be understated by $120600.
(2) A strike by the employees of a supplier resulted in a loss of $98900.
(3) The inventory at December 31, 2017 was overstated by $155200.
(4) A disposal of a component of the business resulted in a $2003000 loss.
The effect of these events and transactions on 2017 net income net of tax would be
($1261140).
($1355800).
($1426620).
($59840).
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