Business, 09.11.2019 02:31 samafeggins2

Gibson reported an incorrect net income amount of $25,852,000 for the year in which the error occurred and the income tax rate was 39.3 percent. required: 1. compute the amount of net income that gibson reported after correcting the inventory error. 2. assume that the inventory error was not discovered. identify the financial statement accounts that would have been incorrect (a) for the year the error occurred and (b) for the subsequent year. state whether each account was understated, overstated, or correct (meaning that there was no effect). chegg

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