=+stated stated 1. Revenue for the year would be $ $

2. Expenses for the year would be $ $

3. Net income for the year would be $ $

4. Assets at December 31 would be $ $

5. Liabilities at December 31 would be $ $

6. Stockholders’ equity at December 31 would be $ $

Error (b)

Over- Under¬

stated stated

$

$

$

$

$

$

$

$

$

$

$

$