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Year 2015 2016 Net Income per Books $45,200 47,370 49,310 51,140 53,040 Error in Ending Inventory Overstated $ 3,180 Overstated 9,890 Understated 10,640 2017 2018
Year 2015 2016 Net Income per Books $45,200 47,370 49,310 51,140 53,040 Error in Ending Inventory Overstated $ 3,180 Overstated 9,890 Understated 10,640 2017 2018 2019 No error Understated 2,030 7,750 2020 55,060 Overstated Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into account the inventory errors. Net Income Per Books Overstatement Jan. 1 Errors in Inventories Understatement Jan. 1 Overstatement Dec. 31 Year 2015 $45,200 $ $ 2016 47,370 2017 49,310 2018 51,140 2019 53,040 2020 55,060 $ Net Income Year per Books 2015 2016 2017 $45,200 47,370 49,310 Error in Ending Inventory Overstated $ 3,180 Overstated 9,890 Understated 10,640 2018 No error 51,140 53,040 2019 Understated Overstated 2,030 7,750 2020 55,060 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 Understatement Jan. 1 Overstatement Dec. 31 Understatement Dec. 31 Corrected Net Income $ $ $ $ $
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