Mystical Corporation Found The Following Errors In Their Year End Financial Stat

Mystical Corporation found the following errors in their year-end financial statements:As of Dec. 2013$46,000 overstatedThere were no other errors or corrections. Ignore any tax considerations. What is the total net effect of errors on Mystical’s 2013 net income? (Points : 5) Working capital overstated by $31,000Working capital overstated by $11,000Working capital understated by $4,000Working capital understated by $36,000

 

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