Indigo Corporation reports net income of $91,780 in 2022. However, ending inventory was understated by $7,010.     What is the correct net income for 2022? The correct net income   $enter the correct net income in dollars      What effect, if any, will this error have on total assets as reported in the balance sheet at December 31, 2022?Total assets in the balance sheet will be select an option                                                                        overstatedunderstated by the amount that ending inventory is select an option                                                                        understatedoverstated, $enter a dollar amount

Question
Indigo Corporation reports net income of $91,780 in 2022. However, ending inventory was understated by $7,010.
 
 
What is the correct net income for 2022?

The correct net income
  $enter the correct net income in dollars 
 
 
What effect, if any, will this error have on total assets as reported in the balance sheet at December 31, 2022?

Total assets in the balance sheet will be select an option                                                                        overstatedunderstated by the amount that ending inventory is select an option                                                                        understatedoverstated, $enter a dollar amount 

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