Assume that the John Henry Company had $ of sales during each of  and  and it purchased merchandise costing $ during each of those years. Its beginning inventory for was $ and its ending inventory for  was  However, it made an ean heat caused its ending  inventory to appear on its financial statements at $ rather than thecorrect $ The company has a December  year  end.Required: SHOW YOUR WORK.  Calculate the correct amount of the companys gross margin gross proff for  and calculate the correct amount of the company\'s gross margin gross profit for  What is the effect of the emror on John Henry, Capital at December  ie is the capital account overstated, understated, or correctly stated? Explain.