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The income statement for Pruitt Company summarized for a four-year period shows the following: An...

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The income statement for Pruitt Company summarized for a four-year period shows the following: An audit revealed that in determining these amounts, the ending inventory for 2017 was overstated by $18,000. The company uses a periodic inventory system. P7-6 Part 1 Required: 1. Prepare the income statements to reflect the correct amounts, taking into consideration the inventory error

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