Brilliant Video Sales Ltd$.$ reported the following data. The shareholders are very happy with Brilliant's steady increase in net income.

$($Click the icon to view the income statements.$)$

Requirements

Show corrected income statements for each of the three years

Will Brilliant's shareholders still be happy with the company's trend of net income? Give a reason for your answer.

Requirement $1.$ Show corrected income statements for each of the three years.

How much did these assumed corrections add to or take away from Brilliant's total net income over the three$-$year period?

The assumed corrections

$]$over the three$-$year period.

How did the corrections affect the trend of net income?

The corrections

Requirement $3.$ Will Brilliant's shareholders still be happy with the company's trend of net income? Give a reason for your answer.

Will Brilliant's shareholders still be happy with the company's trend of net income?

The shareholders

be happy with the trend of net income because the company's

Income statements

$1$