Necessary Toys Company’s condensed income statements for two years follow. 2014 2013 Sales… 1 answer below »

Necessary Toys Company’s condensed income statements for two years follow.
20142013Sales$252,000$210,000Cost of goods sold150,000108,000Gross margin$102,000$102,000Operating expenses60,00060,000Income before income taxes$ 42,000$ 42,000

After the end of 2014, the company discovered that an error had resulted in an $18,000 understatement of the 2013 ending inventory.

Compute the corrected operating income for 2013 and 2014

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