1.Determine the correct amount of the companys gross profit in each of the years 2016-2018.

2. Prepare comparative income statements to show the error on the companys cost of goods sold and gross profit for each of the years 2016-2018

Required 1 Required 2 Determine the correct amount of the company's gross profit in each of the years 2016-2018. VIBRANT COMPANY Comparative Income Statements 2017 Cost of goods sold 3-year total Cost of goods sold Gross profit Required 2 > Required 1 Required Prepare comparative income statements to show the effect of this error on the company's cost of goods sold and gross profit for each of the years 2016-2018. VIBRANT COMPANY Comparative Income Statements 2016 2017 2018 3-year total Cost of goods sold Cost of goods sold Gross profit to search A signments Saved Help Sms Vibrant Company had $930,000 of sales in each of three consecutive years 2016-2018, and it purchased merchandise costing $515,000 in each of those years. It also maintained a $230,000 physical inventory from the beginning to the end of that three year period. In accounting for inventory, it made an error at the end of year 2016 that caused its year-end 2016 inventory to appear on its statements as $210.000 rather than the correct $230,000 Required: 1. Determine the correct amount of the company's gross profit in each of the years 2016-2018 2. Prepare comparative income statements to show the effect of this error on the company's cost of goods sold and gross profit for each of the years 2016-2018 Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Determine the correct amount of the company's gross profit in each of the years 2016-2018 VIBRANT COMPANY Comparative Income Statements 2017 2015 2018 3.year total