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What is the correct pretax income amount for each year

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An income statement was prepared that reflected pretax income of $21,000 for 2020 and $30,000 for 2021. An audit has determined that there were two errors in the inventory amounts as follows:

                                                        Income Amount

                                                       Reported                                  Correct Amount

Ending inventory 2020                  $15,000                              $14,000

Ending inventory 2021                 $18,000                               $16,000

Question 1: What is the correct pretax income amount for each year (show computations assuming the errors were not corrected)?

Reference no: EM132490443

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