Presented below are the comparative income statements for Watson Industries for the years 2024 and 2025 , prior to the information provided in the bulleted list below. Assume no taxes exist. - In 2026, the company discovered that assets costing \$150,000 purchased at the beginning of 2024 had been depreciated stroight-line as though their useful life wos three years, when it was known the life was octuolly five years. - In 2026, the company discovered that the ending inventory for 2024 wos understated by $13,000 - Prepaid expenses of 54,000 were omitted in 2025 In the revised financial statements, the 2025 Net income would be: Select one