(SOLVED) Big Blue Sea Marine Supply reported the following comparative in


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$19

Big Blue Sea Marine Supply reported the following comparative income statement for the years ended September 30, 2010, and 2009:_x0001_Big Blue Sea’s president and shareholders are thrilled by the company’s boost in sales and net income during 2010. Then the accountants for the company discover that ending 2009 inventory was understated by $6,500. Prepare the corrected comparative income statement for the 2-year period, complete with a heading for the statement. How well did Big Blue Sea really perform in 2010, as compared with2009?

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$19