An audit revealed that in determining these amounts, the ending inventory for 2018 was overstated by $20,000. The inventory balance on December 31,2019 , was accurately stated. The company uses a periodic inventory system. Required: 1. Restate the partial income statements to reflect the correct amounts, after fixing the inventory error. 2-a. Compute the gross profit percentage for each year (a) before the correction and (b) after the correction. (Round your answers to the nearest whole percent.) 2-b. Do the results lend confidence to your corrected amounts? Yes No