Walter Co Made the Following Errors in 2016: · Ending Inventory

Multiple Choice

Walter Co. made the following errors in 2016: · Ending inventory was overstated by $2,000.
· Beginning inventory was understated by $6,000.
· Purchases were overstated by $3,000.
Reported net income was $20,000. What is the correct amount of 2016 net income?

A) $19,000
B) $21,000
C) $15,000
D) $4,000