Annual income for the Stoker Co. for the period 2007€“2011 appears below. However, a review of the records for the company reveals inventory misstatements as listed. Calculate corrected net income for eachyear.

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2007 2008 2009 2010 2011 Reported net income (loss) Inventory overstatement, end of year Inventory understatement, end of year $18,000 $13,000 $2,000 $(5,800) $16,000 3,600 5,500 4,500 0,500