Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into…

(Inventory Errors) The net income per books of Adamson Company was determined without knowledge of the errors indicated below.

Year

Net   Income
  per Books

Error in Ending
  Inventory

2008

$50,000

Overstated

$5,000

2009

52,000

Overstated

9,000

2010

54,000

Understated

11,000

2011

56,000

No error  

2012

58,000

Understated

2,000

2013

60,000

Overstated

10,000

Instructions

Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into account the inventory errors.

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