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The effect of these events and transactions on net income

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Question

At Sunland Company, events and transactions during 2017 included the following. The tax rate for all items is 40%.

(1) Depreciation for 2017 was found to be understated by $120600.

(2) A strike by the employees of a supplier resulted in a loss of $98900.

(3) The inventory at December 31, 2017 was overstated by $155200.

(4) A disposal of a component of the business resulted in a $2003000 loss.

The effect of these events and transactions on 2017 net income net of tax would be

Reference no: EM132317214

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