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Format Painter Clipboard Font Alignment Al A B 1 Given Data P06-06A GH 3 NAVAJO COMPANY 6Key Figures For Year Ended December 31 2012 2013 2014 7 (a) Cost of goods sold 8 (b) Net income 9 (c) Total current assets 10 (d) Total equity $ 615,000 $ 957,000 S 780,000 241,000 1,255,0001365,000 1200 000 1,387 0001,530 0001242 000 230,000 285,000 12 13 Inventory errors: 14 Understated December 31, 2012 15 Overstated December 31, 2013 16 17 Check figures: 18 (1) Corrected net income: 2012 19 20 21 S 56,000 S 20,000 Corrected net income: 2013 Corrected net income: 2014 S 286,000 S 209,000 $ 261,000 23 24