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Montana Corporation BALANCE SHEET AS OF DECEMBER 31, 2023 Assets Cash $40,000 Accounts and notes receivable Inventory 30,000 90,000 $160,000 Liabilities and Capital Accounts and

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Montana Corporation BALANCE SHEET AS OF DECEMBER 31, 2023 Assets Cash $40,000 Accounts and notes receivable Inventory 30,000 90,000 $160,000 Liabilities and Capital Accounts and notes payable $20,000 100,000 Common Stock Retained Earnings 40,000 $160,000 These errors were made on December 31, 2022 and were not corrected: ending inventory understated $2,400; accrued expense of $2,100 omitted, and unearned revenue of $2,000 omitted. On December 31 2023, the inventory was overstated $5,000, prepaid expense of $1,800 was omitted, and accrued revenue of $600 was omitted. The net income shown by the books for 2023 was $13,200. The correct 2023 Net Income (Loss) is

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