J Cullumber Company has had issues counting its inventory over the last several years. Assuming that the 2022 inventory was correct,the following information was gathered.Year Net Income20232024202520262027Year$124,9002023Prepare a schedule showing the adjusted net income figure for each year after considering the inventory errors. Ignore the effect ofincome taxes.Error in InventoryUnderstated by $16,000Understated by $4,300Correct$186,600$145,900$139,100 Overstated by $13,200$192,300 Overstated by $7.600$Net Income Per Books Add Overstatement Jan. 1$Deduct UnderstatementJan.1$Deduct OverstatementDec. 31 Prepare a schedule showing the adjusted net income figure for each year after considering the inventory errors. Ignore the effect ofincome taxes.Year20232024202520262027$Net Income Per BooksAdd Overstatement Jan. 1$Deduct UnderstatementJan.1$$Deduct Overstatement IDec. 31

Name: J Cullumber Company has had issues counting its inventory over the las
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: J Cullumber Company has had issues counting its inventory over the last several years. Assuming that the 2022 inventory was correct,the following information was gathered.Year Net Income20232024202520262027Year$124,9002023Prepare a schedule showing t