at the beginnon go 2 0 2 1 morgan co inventory is correctly stated. at the end of 2 0 2 1 their inventory is overstated by 4 0 0 0 at the end of 2 0 2 2 their inventory is overstated by 3 0 0 0 they report net income in 2 0 2 1 of 7 0 0 0 and net income in 2 0 2 2 of 4 0 0 0 . their reported 2 0 2 2 net income should be: 4 0 0 0 , 5 0 0 0 , 3 0 0 0 , or 1 0 0 0