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This question is not 1 00% identical to the one from the textbook; but it is very similar to it. Please read the language carefully

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This question is not 1 00% identical to the one from the textbook; but it is very similar to it. Please read the language carefully before you choose your answers. Ann M. Marlin Company made the following error during 2017. Ending inventory was understated at the end of 2011, and a purchase on account was accidentally not recorded at all in 2017 or in 2018. This purchase remained unpaid by the end of 2018. Ending inventory of 2018 was correctly recorded. Indicate the effect of this error on working capital, current ratio (assume that the current ratio is less than 1), net income, and retained earnings for 201'!r and 2018. Use O for overstated , U for understated , and N for no effect. 2017 2018 Working capital. Current ratio Net income Retained earnings

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