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For Year Ended (a) Cost of goods sold (b) Net income 615,000 957,000 780,000 241,000...

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Accounting

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For Year Ended (a) Cost of goods sold (b) Net income 615,000 957,000 780,000 241,000 1,255,000 1,365,000 1,200,000 1,387,000 1,530,000 1,242,000 230,000 c) Total current assets (d) Total equity Required 1. For each key financial statement figure-(a). ( (a and (d below-prepare a table to show the adjustments necessar reported amounts 2. What is the error in total net income for the combined three-year period resulting from the inventory errors? Complete this questions by entering your answers in the below tabs Required 1 Required 2 For each key financial statement figure-(a), (b), (c), and (d) below-prepare a table to show the adjustments necessary to correct the reported amounts. (Amounts to be deducted must be entered with a minus sign.) ces 2016 Cost of goods sold: Reported amount Adjustments for S 780,000 12/31/2016 ermor 12/31/2017 error 20,000 Cormected amount $ 559,000 1,033,000 760,000 Reported amount 231/2016 ermor 12/31/2017 error Corrected amount Reported amount Adjustments for 2/31/2016 error 2 3 4. 5 6

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