The net income per books of Linda Patrick Company was determined without knowledge of the errors indicated below. Year 2020 2021 2022 2023 2024 2025 Year 2020 2021 2022 2023 2024 Net Income per Books 2025 $50,000 $ 52,000 54,000 56,000 58,000 60,000 Error in Ending Inventory Net Income Per Books Overstated Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into account the inventory errors. Overstated Understated No error Understated Overstated $50,000 52,000 54,000 56,000 58,000 60,000 $3,000 9,000 $ 11,000 2,000 8,000 Overstatement Jan. 1 $ Errors in Inventories Understatement Jan. 1 $ Overstatement Dec. 31

The net income per books of Linda Patrick Compary was determined without knowledge of the errors indicated below. Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into account the inventory errors