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ending inventory is understated $19,000 at 12/31/X7. Ending inventory is understated $14,000 at 12/31/X8. Reported net income = $75,000 for X7, $80,000 for X8. reported

ending inventory is understated $19,000 at 12/31/X7. Ending inventory is understated $14,000 at 12/31/X8. Reported net income = $75,000 for X7, $80,000 for X8. reported retained earnings at 1/1/X9 = $245,000.

What is correct net income for X7?

What is correct net income for X8?

What is correct retained earnings at 1/1/X9?

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