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During the taking of its physical inventory on December 31, Almond Supplies Company incorrectly counted its inventory as dollar 545,000 instead of the correct amount

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During the taking of its physical inventory on December 31, Almond Supplies Company incorrectly counted its inventory as dollar 545,000 instead of the correct amount of dollar 554,000. Indicate the effects of the misstatement on Almond Supplies Company's balance sheet and income statement for the year ended December 31. For those boxes in which you must enter understatements or negative numbers use a minus sign

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