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Purchases Sales Retums Ending Inventory Freight Out Purchase Discounts Overstated Understated 7 5 4 15 3 3 Net Income is: Select one: a. Understated 4

Purchases Sales Retums Ending Inventory Freight Out Purchase Discounts Overstated Understated 7 5 4 15 3 3 Net Income is: Select one: a. Understated 4 b. Understated 24 c. Overstated 6 d. Understated 26 e. Understated 18

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