Adenola Odumosu & Homework: Chapter 6 Homework Question 3, E6-30A (simil.. HW Score60%, 6 of 10 points Part 1 of 2 Points: 0 of 2 pe Tile & Marble Corporation reported the following comparative Income statements for the years ended November 30, 2021 and 2020 Click the icon to view the comparative Income statement.) be's pensident and shareholders are thrilled by the company's boost in sales and net income during 2021. Then the accountants for the company discover that ording 2020 nontory was understated by 56,500 the mouirement are the corrected comparative Income statement for the 2-year period Filleppe Tile & Marble Corporation Income Statements (Corrected) Years Ended November 30, 2021 and 2020 2021 2020 141.00 116.000 79.000 70.000 Bailes revenus Cost of goods sold Beginning inventory Net purchases Cost of goods avalabio Ending inventory Cost of goods sold Gross profil Operating expenses Not income TI Clear Al Filleppe Tile & Marble Corporation Income Statements For the Years Ended November 30, 2021 and 2020 2021 2020 Sales revenue $ 141,000 $ 116,000 Cost of goods sold: Beginning inventory Net purchases Cost of goods available $ 12,000 79,000 $ 10,500 70,000 91,000 (16,000) 80,500 (12,000) Ending inventory Cost of goods sold Gross profit 75,000 68,500 66,000 30,000 47,500 19,000 Operating expenses Net income $ 36,000 $ 28,500 Print Done