Question: At Blossom Company, events and transactions during 2020 included the following. The tax rate for all items is 20%. (1) Depreciation for 2018 was

At Blossom Company, events and transactions during 2020 included the following. The

tax rate for all items is 20%. (1) Depreciation for 2018 was


At Blossom Company, events and transactions during 2020 included the following. The tax rate for all items is 20%. (1) Depreciation for 2018 was found to be understated by $148000. (2) A strike by the employees of a supplier resulted in a loss of $124000. (3) The inventory at December 31, 2018 was overstated by $199000. The effect of these events and transactions on 2020 income from continuing operations net of tax would be ($277600). ($376800). ($217600). ($99200).

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