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Value Co s auditor discovered that Value Co s depreciation expense was understated by $ 1 5 0 . Briefly describe the changes that would

Value Co

s auditor discovered that Value Co

s depreciation expense was understated by $

150 .

Briefly describe the changes that would be made to the balance sheet, income statement, and the cash flow statement if the mistake is corrected. Assume that the company tax rate is

25 % .

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