Correction of Inventory Errors The annual reported income for Salazar Company for the years 2021-2024 is shown here. However, a review of the inventory records reveals inventory misstatements. Reported net income Inventory overstatement, end of year Inventory understatement, end of year 2021 2022 2023 2024 $30,000 $40,000 3,000 $35,000 $45,000 1,500 4,500 500 Using the data provided, calculate the correct net income for each year. 2021 Correct net income 34,500 2022 37,000 2023 2024 36,000 x 43,500 X