Exercise 8-12 The net income per books of Linda Patrick Company was determined without knowledge of the errors indicated below. Year Net Income per Books Error in Ending Inventory 2009 $62,700 Overstated $ 3,210 2010 64,930 Overstated 9,490 2011 66,970 Understated 11,580 2012 69,430 No error 2013 71,860 Understated 2,860 2014 74,180 Overstated 8,420 Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into account the inventory errors. Errors in Inventories Year Net Income Per Books Add Overstatement Jan. 1 Deduct Understatement Jan. 1 Deduct Overstatement Dec. 31 Add Understatement Dec. 31 Corrected Net Income 2009 $62,700 $ $ $ $ $ 2010 64,930 2011 66,970 2012 69,430 2013 71,860 2014 74,180 $ $