Question: Current Attempt in Progress Your answer is incorrect. For Sheffield Limited, events and transactions during 2021-2023 included the following. The tax rate for all items

Current Attempt in Progress Your answer is incorrect. For Sheffield Limited,

Current Attempt in Progress Your answer is incorrect. For Sheffield Limited, events and transactions during 2021-2023 included the following. The tax rate for all items is 30%. 1. Depreciation for 2022 was found to be understated by $31600. 2. A 2023 strike by the employees of a supplier resulted in a loss of $19100. 3. The inventory at December 31, 2021 was overstated by $40300. 4. A 2023 flood destroyed a building that had a book value of $399600. Floods are very uncommon in that area. The effect of these events and transactions on 2023 income from continuing operations net of tax would be $63700. $293090. $13370. $354

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