Ace Company reported the following information for the current year: Sales $ 426,000 Cost of goods sold: Beginning inventory $ 156,000 Cost of goods purchased 289,000 Cost of goods available for sale 445,000 Ending inventory 160,000 Cost of goods sold 285,000 Gross profit $ 141,000 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $36,000. Given this information, the correct gross profit would be