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Question 8 Coronado Company reports net income of 97,070 in 2017. However, ending inventory was understated 12,460. What is the correct net income for 2017?

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Question 8 Coronado Company reports net income of 97,070 in 2017. However, ending inventory was understated 12,460. What is the correct net income for 2017? The correct net income for 2017 What effect will this error have on total assets as reported in the statement of financial position at December 31, 2017? Total assets in the statement of financial position will be liy *

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