Big Blue Sea Marine Supply reported the following comparative income statement for the years ended September 30,

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Big Blue Sea Marine Supply reported the following comparative income statement for the years ended September 30, 2010, and 2009:

Big Blue Sea Marine Supply reported the following comparative in

Big Blue Sea€™s president and shareholders are thrilled by the company€™s boost in sales and net income during 2010. Then the accountants for the company discover that ending 2009 inventory was understated by $6,500. Prepare the corrected comparative income statement for the 2-year period, complete with a heading for the statement. How well did Big Blue Sea really perform in 2010, as compared with2009?

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Financial accounting

ISBN: 978-0136108863

8th Edition

Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas

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