Question : 61. Wilmington Company reported pretax income of $25,000 during 2010 and : 1228533
61. Wilmington Company reported pretax income of $25,000 during 2010 and $30,000 during 2011. Later it was discovered that the ending inventory for 2010 was understated by $2,000 (and not corrected in 2011). What is the correct pretax income for each year? A. Option A B. Option B C. Option C D. Option D 2010 Net income ($27,000) = Reported pretax income ($25,000) + Understatement of ending inventory […]