Can you prepare the income statement?

Waterway Industries reported these income statement data for a 2-year period. Sales revenue Beginning inventory Cost of goods purchased Cost of goods available for sale Less: Ending inventory Cost of goods sold Gross profit 2022 $231,700 42,250 209,060 251,310 53,560 197,750 $33,950 2021 $207,690 34,150 174,570 208,720 42,250 166,470 $41,220 Waterway Industries uses a periodic inventory system. The inventories at January 1, 2021, and December 31, 2022, are correct. However, the ending inventory at December 31, 2021, is overstated by $8,580. Prepare correct income statement data for the 2 years. 2021 2022 Sales $ $ Cost of goods sold Beginning inventory Cost of goods purchased