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Find corrected amount for total assets and net income

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Question - Sunland Inc. reported total assets of $2391000 and net income of $339000 for the current year. Sunland determined that inventory was overstated by $23000 at the beginning of the year (this was not corrected). Ignoring income taxes, find corrected amount for total assets and net income for the year?

a. $2414000 and $362000.

b. $2391000 and $339000.

c. $2368000 and $316000.

d. $2391000 and $362000.

Reference no: EM132609937

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