Barry Corp

question 16

Multiple Choice

Barry Corp. reported 2016 net income of $40,000. However, the ending inventory in 2015 had been understated by $3,000, and 2016's ending inventory had been overstated by $6,000. Barry's correct net income for 2016 was

• A) $31,000
• B) $34,000
• C) $43,000
• D) $46,000

---

Definitions:

Umbilical Hernia

A condition where the intestine protrudes through the abdominal muscles at the belly button, more common in infants.

Femoral Hernia

A bulge near the groin or inner thigh caused by intestine pushing through a weakness in the abdominal wall into the femoral canal.

Gangrene

The death of body tissue due to either a lack of blood flow or a serious bacterial infection.

Perforation

A medical condition in which a hole or tear occurs in the wall of any part of the gastrointestinal tract or other bodily organs.