Gibson reported an incorrect net income amount of $25,852,000 for the year in which the error occurred and the income tax rate was 39.3 percent. required: 1. compute the amount of net income that gibson reported after correcting the inventory error. 2. assume that the inventory error was not discovered. identify the financial statement accounts that would have been incorrect (a) for the year the error occurred and (b) for the subsequent year. state whether each account was understated, overstated, or correct (meaning that there was no effect). chegg

Cash flow is often a problem for small businesses. how can an entrepreneur increase cash flow? a) locate lower-priced suppliers. b) forego sending in estimated tax payments to the irs c) shorten the terms on a bank loan to pay it off more quickly d) sell more low-margin items.

At december 31, 2016, pina corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,810 shares $10,781,000 common stock, $5 par, 4,026,000 shares 20,130,000 during 2017, pina did not issue any additional common stock. the following also occurred during 2017. income from continuing operations before taxes $21,950,000 discontinued operations (loss before taxes) $3,505,000 preferred dividends declared $1,078,100 common dividends declared $2,300,000 effective tax rate 35 % compute earnings per share data as it should appear in the 2017 income statement of pina corporation

If a government accumulates chronic budget deficits over time, what's one possible result? a. a collective action problem b. a debt crisis c. regulatory capture d. an unfunded liability