Question: 5 Doints Exercise 5.4 (Static) Correcting net income. LO 5-2 Assume that a firm reports net income of $135,000 prior to making adjusting entries

5 Doints Exercise 5.4 (Static) Correcting net income. LO 5-2 Assume that a firm reports net income of $135,000 prior to making adjusting entries for the following items: expired rent, $10,500; depreciation expense, $12,300, and supplies used, $5,400. Assume that the required adjusting entries have not been made. What effect do these errors have on the reported net Income? Answer

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