Statements For a recent year, the balance sheet for The Campbell Soup Company Indudes accrued expenses of 5676 milion. The income before taves for Campbell for the year was $272 million a. Assume the adjusting entry for $676 million of accrued expenses was not recorded at the end of the year. Dy how much would become before tres have been misstated? 676 million b. What is the percentage of the misstatement in (a) to the reported income of $272 million Round to one decimal place. X 3. Revenues and expenses net out to calculate net income. Consider the impact on net income it an accrued expense is not recorded b. Divide the omitted expense by the income amount Previous