Current Attempt in Progress Sheffield Watch Company reported the followingincome statement data for a 2 -year period. Sheffinld uses a periodicimentory system. Theimventories at January 1, 2021, and December 31,2022 arecorrect. However, the endirs invertory at December 31,2021 , was overstated 57,000 . (a) Your armwer is partially correct. Preparecorrectincome statement data for the 2 years. Prepare correct income statement data for the 2 years. eTextbook and Media (b) What is the cumulative effect of the imventory erroc on total gross profit for the 2 years? Cumulative effect of the inventory error 5