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How much should Compass Rose, Inc. have reported as Total Revenue in the revenue section of the Income Statement? A) $232,000 B) $237,000 C) $243,000

image text in transcribedHow much should Compass Rose, Inc. have reported as Total Revenue in the revenue section of the Income Statement?

A) $232,000

B) $237,000

C) $243,000

D) $250,000

Please show work. Thanks

The bookkeeper for Compass Rose, Inc. mistakenly included the following items in the revenue section of the company's Income Statement: Licensing and royalty income 5,000 Income from operations of component unit (including gain on unit disposal of $21,600) 20,000 Income tax expense 7,000 Net sales revenue 220,000 Service revenue 12,000 Total revenues 250,000

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