Exercise 8-26 The net income per books of Flint Company was determined without knowledge of the errors indicated below Error in Ending Inventory Net Income Year per Books 2012 2013 2014 2015 2016 2017 $48,800 Overstated 3,240 50,890 Overstated 52,810 Understated 10,750 No error 56,640 Understated 1,890 Overstated 8,900 54,840 58,620 7,450 Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into account the inventory errors. Recall that ending inventory from one year becomes beginning inventory in the next year Errors in Inventories Net Income Overstatement Understatement Overstatement Understatement Corrected Net Year Per Books 2012 2013 2014 2015 2016 2017 Jan. 1 Jan. 1 Dec. 31 Dec. 31 Income $48,800s 50,890 52,810 54,840 56,640 58,620 Question Attempts: 0 of 15 used