At x Company, events and transactions during 2020 included the following. The tax rate for all items is 20%.

(1)	Depreciation for 2018 was found to be understated by $150,000.

(2)	A strike by the employees of a supplier resulted in a loss of $120,000.

(3)	The inventory at December 31, 2018 was overstated by $160,000.

(4)	A disposal of a component of the business resulted in a $16,000,000 loss.

The effect of these events and transactions on 2020 net income net of tax would be? Please show step by step.