The net income per books of Indigo Company was determined without knowledge of the errors indicated below.

Year Net Income per Books Error in Ending Inventory 2012 $48,800 Overstated $ 3,020 2013 50,890 Overstated 8,200 2014 53,000 Understated 10,970 2015 54,960 No error 2016 57,150 Understated 1,980 2017 59,330 Overstated 8,380

Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into account the inventory errors.

Errors in Inventories Year Net Income Per Books Overstatement Jan. 1 Understatement Jan. 1 Overstatement Dec. 31 Understatement Dec. 31 Corrected Net Income 2012 $48,800 $ Entry field with incorrect answer $ Entry field with incorrect answer $ Entry field with correct answer $ Entry field with incorrect answer $ Entry field with incorrect answer 2013 50,890 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with correct answer Entry field with incorrect answer 2014 53,000 Entry field with incorrect answer Entry field with incorrect answer Entry field with correct answer Entry field with incorrect answer Entry field with incorrect answer 2015 54,960 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer 2016 57,150 Entry field with incorrect answer Entry field with incorrect answer Entry field with correct answer Entry field with incorrect answer Entry field with incorrect answer 2017 59,330 Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Entry field with correct answer Entry field with incorrect answer $ Entry field with incorrect answer $ Entry field with incorrect answer

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