Doug Riley Is the Only Accountant Employed at Carmen Enterprises

Essay

Doug Riley is the only accountant employed at Carmen Enterprises.When asked by the company president if the financial statements had been prepared yet,Doug answered that he had completed all of his work except the preparation of the statements.He added that the net income that would appear on the current income statement would be $392,180.Identify the two instances where Doug would have determined the net income before he actually prepared the financial statements.