Branson Electric prepared the following condensed income statements for two successive years.

	2021				2020
Sales	$	2,000,000			$	1,950,000
Cost of goods sold		1,550,000				850,000
Gross profit on sales	$	450,000			$	1,100,000
Operating expenses		500,000				250,000
Net income	$	-50,000			$	850,000

At the end of 2020 (right-hand column), the inventory was understated by $30,500, but the error was not discovered until after the accounts had been closed and financial statements prepared at the end of 2021. The balance sheets for the two years showed owners equity of $480,000 at the end of 2020 and $480,000 at the end of 2021. (Branson is organized as a sole proprietorship and does not incur income taxes expense.)

a. Compute the corrected net income figures for 2020 and 2021.

b. Compute the gross profit amounts and the gross profit percentages for each year on the basis of corrected data. (Round "Gross profit percentage" to 2 decimal places (i.e. .1234 should be entered as 12.34))