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Condensed income statements for Amy Corporation are shown below for two years. 2021 2022 Sales $87,000 $104,400 Cost of Goods Sold 52,200 62.640 Gross Profit
Condensed income statements for Amy Corporation are shown below for two years. 2021 2022 Sales $87,000 $104,400 Cost of Goods Sold 52,200 62.640 Gross Profit $34,800 $41,760 Operating Expense 17,400 17.400 Net Income $17.400 $24,360 Compute the corrected net income for 2021 and 2022 assuming that the inventory at the end of 2021 was mistakenly overstated by $5,800 2021 2022 Corrected net income Condensed income statements for Riverbed Corporation are shown below for two years. 2021 2022 Sales $82,500 $99,000 49,500 59,400 Cost of Goods Sold Gross Profit $33,000 $39,600 Operating Expense 16,500 16,500 Net Income $16,500 $23,100 Compute the corrected net income for 2021 and 2022 assuming that the inventory as of the end of 2021 was mistakenly understated by $7.700. 2021 2022 Corrected net income $
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