(Click the icon to view the comparative income statement.) Big Blue's president and shareholders are thrilled by the company's boost in sales and net income during 2018. Then the accountants for the company discover that ending 2017 inventory was understated by $8,000. i Data Table Read the requirement. Cost of goods sold: Beginning inventory 14500 $ 11,000 For the Years Ended June 30, 2018 and 2017 79,000 73,000 2018 2017 93500 84,000 Sales revenue $ 139,000 $ 119,000 Net purchases Cost of goods available Ending inventory Cost of goods sold Gross profit (21,000) (22,500) 72500 69500 Cost of goods sold: Beginning inventory Net purchases Cost of goods available $ 14,500 79,000 $ 11,000 73,000 30000 36500 Operating expenses 93,500 (21,000) 84,000 (14,500) Net income Ending inventory Cost of goods sold 72,500 69,500 Enter any number in the edit fields and then click Check Answer. Gross profit 66,500 30,000 49,500 19,000 Operating expenses 1 part Clear All remaining $ 36,500 $ 30,500 Net income Print Done