Current Attempt In Progress:

The before$-$tax income for Marin Co$.$ for $2020$ was $$94,000$ and $$72,000$ for $2021.$ However, the accountant noted that the following

errors had been made:

Sales for $2020$ included amounts of $$41,600$ which had been received in cash during $2020,$ but for which the related products

were delivered in $2021.$ Title did not pass to the purchaser until $2021.$

The inventory on December $31,2020,$ was understated by $$7,900.$

The bookkeeper in recording interest expense for both $2020$ and $2021$ on bonds payable made the following entry on an

annual basis.

Interest Expense $13,800$

Cash

$13,800$

The bonds have a face value of $$230,000$ and pay a stated interest rate of $6\%.$ They were issued at a discount of $$15,000$ on

January $1,2020,$ to yield an effective$-$interest rate of $7\%.($Assume that the effective$-$yield method should be used.$)$

Ordinary repairs to equipment had been erroneously charged to the Equipment account during $2020$ and $2021.$ Repairs in the

amount of $$8,400$ in $2020$ and $$8,400$ in $2021$ were so charged. The company applies a rate of $10\%$ to the balance in the

Equipment account at the end of the year in its determination of depreciation charges.

Prepare a schedule showing the determination of corrected income before taxes for $2020$ and $2021.($Enter negative amounts using

either a negative sign preceding the number e$.$g$.-15,000$ or parentheses e$.$g$.(15,000).$ Round answers to $0$ decimal places, e$.$g$.125.)$