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Condensed Income Statements for Sauk Company Are Shown Below for Two

Question 141

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Condensed income statements for Sauk Company are shown below for two years.
Condensed income statements for Sauk Company are shown below for two years. Compute the corrected income before income taxes for 2012 and 2013 assuming that the inventory as of the end of 2012 was mistakenly understated by $6,000. Compute the corrected income before income taxes for 2012 and 2013 assuming that the inventory as of the end of 2012 was mistakenly understated by $6,000.

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2012 = $48,000 (EI understated...

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