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Marigold Inc. reported total assets of $2391000 and net income of $318000 for the current year. Marigold determined that inventory was overstated by $23500 at the beginning of the year (this was not corrected).
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Marigold Inc. reported total assets of $2391000 and net income of $318000 for the current year. Marigold determined that inventory was overstated by $23500 at the beginning of the year (this was not corrected). Ignoring income taxes, what is the corrected amount for total assets and net income for the year

User Chia Yongkang
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Answer:

Total Assets = $2391000

Net Income = $318000

Step-by-step explanation:

The corrected amount for total assets and net income for the year :

Total Assets = $2391000

Net Income = $318000

User Ziesemer
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