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Question 2 [14 points] Segura Corporation reported the amounts shown below in its financial statements. In making the physical counts of inventory, the following errors
Question 2 [14 points] Segura Corporation reported the amounts shown below in its financial statements. In making the physical counts of inventory, the following errors were made: Inventory on December 31, 2014: overstated $34,000 Inventory on December 31, 2015: understated $17,000 Cost of Goods Sold Net income Total current assets Equity 2014 600.000 241,000 850,000 780,000 Financial Statements for Year Ended December 31, 2015 520.000 285,000 760,000 925.000 2016 525,000 300,000 725,000 930,000 Use this information to calculate the corrected amounts for each year and enter them in the table below: 2014 2015 2016 Cost of Goods Sold Net income Total current assets Equity
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