2 P7-5 Analyzing and Interpreting the Effects of Inventory Errors L07-5 The statements of earnings for Pruitt Company summarized for a four-year period show the following (amounts in thousands of dollars): Tipped 2021 Sales revenue $2,525 2020 $2,950 2019 $3,200 2018 $3,475 Cost of sales 1.755 1,877 2,012 2,363 Gross profit 770 1,073 1,166 1,112 Operating expenses 540 563 588 592 Pretax earnings 230 $10 588 520 eBook Income tax expense (40%) 92 204 232 208 Net earnings $138 $ 106 $348 $ 312 Print references An audit revealed that in determining these amounts, the ending inventory for 2019 was understated by $32. Required: 1. Revise these statements of earnings to reflect the correct amounts. (Do not round intermediate calculations. Round the final answers to the nearest dollar amount.) PRUIT COMPANY Corrected Statement of Earnings 2021 2020 2019 2018 Sales revenue Cost of sales Gross prof Operating expenses Pretax earnings Income tax expense Net earnings n.com252Fmghr