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Business, 05.03.2021 19:00 mqturner1989Kedie

Black, Inc., is a calendar-year corporation. Its financial statements for 2017 and 2018 included the following errors: Year Ending Inventory Depreciation Expense 2017 $162,000 overstated $135,000 overstated 2018 $59,000 understated $45,000 understated Assume that purchases were recorded correctly and that no correcting entries were made at December 31, 2017, or at December 31, 2018. Ignoring income taxes, by how much should Black's retained earnings be retroactively adjusted at January 1, 2019

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