During its first four years of operation,BuffaloCo. reported the following net income.

2015 $88,800 2016 138,900 2017 168,100 2018 237,500

Buffalois undergoing its first financial statement audit. The external auditors noted the following:

1.In early 2018,BuffaloCo. changed its estimate of bad debt expense from 2.5% of sales to 2.0% of sales. The company therefore adjusted its net income upward for 2015 through 2017 by the following amounts.

2015 $2,000 2016 4200 2017 5,700

2.The auditor discovered that ending inventory was misstated as indicated below for the years ending 2015 and 2017:

Year Amount of

misstatement Direction of

misstatement

2015 $19,900 Overstatement

2017$15,700 Understatement

Calculate net income to be reported inBuffalo's comparative income statements for the years 2015 to 2018.

net income:

2015:

2016:

2017:

2018: