Analyzing Impact of Inventory Errors on Reporting

The records of Largo Company reveal the following.

The following errors were found and they have not yet been corrected.

Revenues of $$5,000$ collected in advance are included in Sales Revenue.

Accrued operating expenses of $$7,000$ are not recorded.

Goods costing $$10,000$ are incorrectly included in ending inventory $($they are being held on consignment.$)$ No purchase was recorded.

Goods costing $$5,000$ are correctly included in ending inventory; however, no purchase was recorded $($assume a credit purchase$).$

a$.$ Prepare a revised income statement on a correct basis.

Note: Do not use negative signs with your answers.

Note: If a correction is not required, select $"$N$/$A$"$ and leave the amount answer blank $($zero$).$