Annual income for the Stoker Co. for the period 2011-2015 appears below. However, a review of the

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Annual income for the Stoker Co. for the period 2011-2015 appears below. However, a review of the records for the company reveals inventory misstatements as listed. Calculate corrected net income for each year.

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Intermediate Accounting

ISBN: 978-1133957911

19th edition

Authors: Earl K. Stice, James D. Stice

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Question Posted: Oct 05, 2016 08:07 AM

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Annual income for the Stoker Co. for the period 2011-2015 appears below. However, a review of the

Question:

2011 $18,000 ... 4500 2012 2013 2014 2015 Reported net income (loss) . . Inventory overstatement, end of year Inventory understatement, end of year. $13,000 5,500 $2,000(5,800) 16,000 3,600 10,500

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2011 2012 2013 2014 2015 Reported net income loss18000 13000 2000 ...View the full answer

Intermediate Accounting

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