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please help me how to solve this. thank you so much (23 points) company's net incomes for the past two years are presented below (ignore
please help me how to solve this. thank you so much
(23 points) company's net incomes for the past two years are presented below (ignore tares 2019 2018 $480,000 $150,000 puing the 2019 year -end audit, the following items come to your attention Dyke boug ht equipment on January 1, 2018 for $490,000 with a $40,000 estimated salvage value and a ife. The company debited an expense account and credited cash on the purchase date for the entire cost of the asset. (Straight-line method) 2019 2018 $%21,000 2. Inventory Overstatement of ending inventory Understatement of ending inventory $28,000 3. Dyke records commission expense when paid. The following are the accrued commissions at the end of 2018 and 2019 which had not been paid. December 2018 $5,1 December 2019 $6,200 Instructions A. Determine corrected net incomes for 2018 and 2019. 2019 Reported Net Income801000 s 150 000 -1 t75'ew) (15,00 150007.1 490 000 21000 211000 5 100 l 19 469,000 1000 Adjusted Net Income
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