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INCOME STATEMENT PROBLEM #2 GIVEN Sales Discounts OVERSTATED UNDERSTATED Depreciation Expense Beginning Inventory UNDERSTATED Rent Revenue Purchases Discounts Determine the effect on indicate overstated or understated as well as the amount) Net Sales Gross Profit Cost of Goods Sold Net Income INCOME STATEMENT PROBLEM 13: GIVEN OVERSTATED Ending Inventory Purchase Discounts Bad Debt Expense . Beginning Inventory Sales Discounts Freight Out Freight-in Determine the effect on (indicate overstated or understated as well as the amount Net Sales Gross Profit Cost of Goods Sold Net Income OVERSTATED UNDERSTATED INCOME STATEMENT PROBLEM 14: GIVEN: Sales Discounts Purchases Depreciation Expense Sales Beginning Inventory Interest Expense Ending Inventory Freight-in Rent Revenue Purchases Discounts 1 2 Determine the effect on indicate overstated or understated as well as the amounti: Gross Profit Net Sales Cost of Goods Sold Net Income na Sales - 6obs ex