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Pets Smart recently completed their 2022 Inventory and realized that a truckload of merchandise that...

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Accounting

Pets Smart recently completed their 2022 Inventory and realized that a truckload of merchandise that is valued at $18,000 was included in inventory, however this merchandise had yet to be received and was sold FOB destination. (a) What is the effect on 2022 Financial Statement including amounts (b) the effects on the 2023 financial statements including amounts; assume no errors are made in 2023.(10 Marks)
\table[[Year2022,Assets,Liabilities,\table[[0,0],[6,]],,ts; assume no],[,,Llabilities,Equity,COGS,Net Income],[,2023],[,,,,,],[,,,,,],[,,,,,]]
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