Bramble Inc. reported the following partial statement of income data for the years ended December 31, 2021, and 2020: 2021 2020 Sales $278,000 $253,000 209,000 191,268 Cost of goods sold Gross profit 69,000 61,732 The company reported inventory in the statement of financial position at $43,700, $50,500, and $47,300 at the end of 2019, 2020, and 2021, respectively. The ending inventory amounts for 2019 and 2021 are correct. However, the ending inventory at December 31, 2020, is understated by $7,337. (a) Prepare correct statements of income for 2020 and 2021 through to gross profit. 2021 2020 Sales $ $ Cost of goods sold Gross profit $ $ (b) What is the cumulative effect of the inventory error on total gross profit for these two years? Cumulative effect of the inventory error on total gross profit $ e Textbook and Media