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Fisher Company prepared income statements that reflected preta Income of $21,000 for 2018 and 530,000 for 2019. An audit has determined that there were two
Fisher Company prepared income statements that reflected preta Income of $21,000 for 2018 and 530,000 for 2019. An audit has determined that there were two errors in the inventory amounts as follows Ending inventary, 2018 Ending inventary, 2019 Amount Reported $15.000 18,000 Correct Amount $14.000 16,000 Determine the correct pretax income amount for each year (assume the errors were not corrected Correct Pretax income for 2018 Correct Pretax Income for 2018 5
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