### Find corrected amount for total assets and net income

Assignment Help Accounting Basics
##### Reference no: EM132609937

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.

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