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Business, 19.05.2020 20:04 rclara34oxbrr9

4.4 points Time Remaining 1 hour 52 minutes 29 seconds01:52:29 Item 13Item 13 4.4 points Time Remaining 1 hour 52 minutes 29 seconds01:52:29 Powell Company had the following errors over the last two years: 2016: Ending inventory was overstated by $30,000 while depreciation expense was overstated by $24,000. 2017: Ending inventory was understated by $5,000 while depreciation expense was understated by $4,000. By how much should retained earnings be adjusted on January 1, 2018? (Ignore taxes)

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