Reported pretax income of $25,000 during 2018 and $30,000 during 2019. Later it was discovered that the ending inventory for 2018 was understated by $2,000 (and not corrected in 2018). What is the correct pretax income for 20

The correct pretax income in 2018 is $27000.

The correct pretax income in 2019 is $28000.

Explanation:

In 2018, the reported pretax income was $25000, however, ending inventory was understated by $2000.

The Cost of goods sold was overstated making net income understated.

∴ The correct pretax income for 2018 should be = .

In 2019, the reported pretax income was $30000, which means it is overstated by $2,000.

∴  The correct pretax income for 2019 should be =

∵ The understated ending inventory would become beginning inventory which would cause the cost of goods sold to be understated and net income was overstated.

answer: a. the kind of population living in your neighbourhood.

the census explorer data tool by the us census bureau allows the user to zoom in on any neighbourhood within the united states and find the kind of people residing in that by race and age.  

the tool needs to needs to be used twice – once in order to find what type of people reside in a neighbourhood, and then to see the age groups of the people in the same neighbourhood.