pretax income
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Free InquiryMill Co. reported pretax income of $152,500 for the year ended December 31. During the year-end audit, the external auditors discovered the following errors:
Ending inventory: $30,000 overstated
Depreciation expense: $64,000 understated
What amount should Mill report as the correct pretax income for the year ended December 31?
A.$58,500
B.$118,500
C.$186,500
D.$246,500
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