Shetland Company reported net income on the year-end financial statements of $125,000. However, errors in inventory were discovered after the reports were issued. If inventory was understated by $15,000, how much net income did the company actually earn? Net income + Add back to adjust for excess COGS deducted Net income

Shetiand Compeny reported net income on the year-end financial statements of $125,000. However, errors in inventory were discovered after the reports were issued. If inventory was understated by $15,000, bow much net incoene did the company actually earm? Net income + Add back to ad ust for exeess COGS deducted Net income