Hudson Inc. reported pretax income of $40,000 during 2018. The pretax income of Hudson Inc. was determined without knowledge of the errors indicated (assume periodic inventory method).
Year 2018 Ending inventory $9,000 understated
Year 2017 ending inventory $14,000 understated
Required:
1. What is the correct pretax income for 2018?
a. $49,000
b. $54,000
c. $63,000
d. $35,000
e. $17,000
f. $45,000
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