Could you explain how to fill the remaining parts of the income statement? As well describe what would the cumulative effect on the total gross profit for the two years would be?

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. Your answer is partially correct. Prepare correct income statement data for the 2 years. 2021 2022 S 207690 S 231700 34150 33670 Sales Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale Less: Ending inventory Cost of goods sold Gross profit 33670 53560 S $ eTextbook and Media Your answer is incorrect. What is the cumulative effect of the inventory error on total gross profit for the 2 years? The cumulative effect on total gross profit for the two years is $