6-31A (similar to) Question Hel Waterlily Carpets's books show the following data: EEB (Click the icon to view the income statements.) In early 2018, auditors found that the ending merchandise inventory for 2015 was understated by $4,000 and that the ending merchandise inventory for 2017 was overstated by $5,000. The ending merchandise inventory at December 31, 2016, was correct. Read the rensirements Requirements Requirement 1. Prepare corrected income statements for the three Waterlily 1. Prepare corrected income statements for the three years Income St 2. State whether each year's net income before your corrections-is understated or overstated, and indicate the amount of the understatement or overstatement Enter any number in the edit fields and then click Check Answer3. Compute the inventory turnover and days' sales in inventory using the corrected income statement for the three years. (Round all numbers to two decimals.) Check Answer remaining O Type here to search 1/16/2019 5 6 7 8 9 1