(a) Prepare a corrected retained earnings statement. (Ignore income tax effects.) FIFO inventory was used in 2010 to compute net income. (b) State where the items that do not appear in the corrected retained earnings statement should be shown.
(a) Prepare a corrected retained earnings statement. (Ignore income tax effects.) FIFO inventory was used in 2010 to compute net income.(b) State where the items that do not appear in the corrected retained earnings statement should be shown.