Carter Company reported these income statement data for a 2-year period.

		2017		2016
Sales		$250,000		$210,000
Beginning inventory		40,000		30,000
Cost of goods purchased		202,000		173,000
Cost of goods available for sale		242,000		203,000
Ending inventory		50,000		40,000
Cost of goods sold		192,000		163,000
Gross profit		$58,000		$47,000

Carter Company uses a periodic inventory system. The inventories at January 1, 2016, and December 31, 2017, are correct. However, the ending inventory at December 31, 2016, is overstated by $4,000.

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Prepare correct income statement data for the 2 years.

		2016		2017
Income Before Income Tax Other Expenses and Losses Cost of Goods Purchased Cost of Goods Sold Gross Profit Cost of Goods Available for Sale Sales Beginning Inventory Net Income Operating Expenses Ending Inventory		$		$
Ending Inventory Cost of Goods Sold Income Before Income Tax Beginning Inventory Gross Profit Cost of Goods Available for Sale Operating Expenses Net Income Other Expenses and Losses Sales
Sales Other Expenses and Losses Income Before Income Tax Cost of Goods Sold Net Income Ending Inventory Gross Profit Operating Expenses Beginning Inventory Cost of Goods Available for Sale
Gross Profit Operating Expenses Cost of Goods Sold Net Income Beginning Inventory Income Before Income Tax Other Expenses and Losses Sales Cost of Goods Purchased Cost of Goods Available for Sale Ending Inventory
Net Income Income Before Income Tax Ending Inventory Other Expenses and Losses Sales Cost of Goods Sold Gross Profit Beginning Inventory Cost of Goods Purchased Cost of Goods Available for Sale Operating Expenses
Net Income Cost of Goods Available for Sale Income Before Income Tax Sales Beginning Inventory Cost of Goods Purchased Ending Inventory Cost of Goods Sold Gross Profit Operating Expenses Other Expenses and Losses
Net Income Sales Beginning Inventory Cost of Goods Purchased Cost of Goods Available for Sale Ending Inventory Operating Expenses Income Before Income Tax Cost of Goods Sold Other Expenses and Losses Gross Profit
Beginning Inventory Sales Other Expenses and Losses Cost of Goods Purchased Income Before Income Tax Operating Expenses Net Income Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold Gross Profit		$		$

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What is the cumulative effect of the inventory error on total gross profit for the 2 years? (If answer is zero please enter 0, do not leave any field blank.)

Total gross profit for the two years

$