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Cody company reports net income of 104400 in 2010 however

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Cody Company reports net income of $104,400 in 2010. However, ending inventory was understated $18,820. What is the correct net income for 2010?

What effect, if any, will this error have on total assets as reported in the balance sheet at December 31, 2010?
Total assets in the balance sheet  will be by $

Reference no: EM13597367

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