Prepare a worksheet to show the adjusted net income figure

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Reference no: EM131928365

Problem

The net income per books of Monty Company was determined without knowledge of the errors indicated below.

Year	Net Income per Books	Error in Ending Inventory
2012	$45,900	Overstated	$ 2,920
2013	47,840	Overstated	8,610
2014	49,760	Understated	10,040
2015	51,730	No error
2016	53,640	Understated	1,980
2017	55,640	Overstated	7,640

Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into account the inventory errors.

Reference no: EM131928365

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