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Oriole Company reported net incomes for a three-year period as follows: 2022, $193,200; 2023, $199,900; 2024, $175,200. In reviewing the accounts in 2025 after
Oriole Company reported net incomes for a three-year period as follows: 2022, $193,200; 2023, $199,900; 2024, $175,200. In reviewing the accounts in 2025 after the books for the prior year have been closed, you find that the following errors have been made in summarizing activities: 2022 2023 2024 Overstatement of ending inventory $44,100 $51,400 $31,000 Understatement of accrued advertising expense 6,300 11,500 7,200 (a) Determine corrected net incomes for 2022, 2023, and 2024. 2022 $ 2023 $ 2024 $ Corrected Net Income Save for Later Attempts: 0 of 1 used Submit Answer
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