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Current Attempt in Progress Your answer is incorrect. For Sheffield Limited, events and transactions during...

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Accounting

image Current Attempt in Progress Your answer is incorrect. For Sheffield Limited, events and transactions during 2021-2023 included the following. The tax rate for all items is 30%. 1. Depreciation for 2022 was found to be understated by $31600. 2. A 2023 strike by the employees of a supplier resulted in a loss of $19100. 3. The inventory at December 31, 2021 was overstated by $40300. 4. A 2023 flood destroyed a building that had a book value of $399600. Floods are very uncommon in that area. The effect of these events and transactions on 2023 income from continuing operations net of tax would be $63700. $293090. $13370. $354

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