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What is the corrected amount for total assets and net income

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Waterway Inc. reported total assets of $6410000 and net income of $502000 for the current year. Waterway determined that inventory was understated by $140000 at the beginning of the year and $58200 at the end of the year. What is the corrected amount for total assets and net income for the year?

Reference no: EM132382287

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