At the beginning of

$2$

$0$

$2$

$0$

$,$

$$Tanham Company discovered the following errors made in the preceding

$2$

$$years:

$2$

$0$

$1$

$8$

$2$

$0$

$1$

$9$

Overstatement of ending inventory $

$4$

$,$

$9$

$0$

$0$

$$$

$2$

$,$

$1$

$0$

$0$

Omission of wages payable

$7$

$1$

$5$

$7$

$9$

$5$

Omission of allowance for doubtful accounts

$1$

$,$

$3$

$0$

$5$

$1$

$,$

$6$

$6$

$0$

Prepayment of insurance recorded as expense

$5$

$1$

$5$

$2$

$1$

$0$

Reported net income was $

$2$

$5$

$,$

$8$

$2$

$5$

$$in

$2$

$0$

$1$

$8$

$$and $

$3$

$4$

$,$

$8$

$1$

$5$

$$in

$2$

$0$

$1$

$9$

$.$

$$The allowance for doubtful accounts had a zero balance at the beginning of

$2$

$0$

$1$

$8$

$.$

$$No accounts were written off during

$2$

$0$

$1$

$8$

$$or

$2$

$0$

$1$

$9$

$.$

$$Ignore income taxes.

Required:

$1$

$.$

$$What is the correct net income for

$2$

$0$

$1$

$8$

$$and

$2$

$0$

$1$

$9$

$?$

$2$

$.$

$$Prepare the adjusting journal entry in

$2$

$0$

$2$

$0$

$$to correct the errors.