Data Table 2013 200.000 2017 5 176 $16401 24000 $ 30.000 000 000 2. Evergreen Carpet's books show the following data 113 Click the loon to view the income statements In early 2020. auditors found that the ending machinery for 2017 wunderstand by December 31, 2011 was cond Read the recrutements En Merchandise Inventory Overse by 35.000 Correct Net Sa Revenue Cost of Good Sold Beginning Merchandise Net Cost of Purchase Cost of Goods Artable Le Ciding Mercetary Cost of Gods sold OP Open Open Co Good Begining Merchandise Nel costo che of Goods Art for Sale Longchany Cost of Good Grass 90000 30 . 00 100 TIL TO 000 1900 Net MINI Pent Done Evergreen Carpets's books show the following data (Click the icon to view the income statements) In early 2020. auditors found that the ending merchandise inventory for 2017 was understated by $4.000 and at the ending chandran newydor 2019 win overed by $5.00 Thundegudame December 31, 2018, was correct Read the requirements. Income Statement For the Year Ended December 31, 2015, 2011, and 2017 2019 2010 Ending Merchandise Inventory Overstated by 55.000 2017 Ending Merchandise Inventory Understand by 54.000 Correct Net Sales Revenue Cost of Goods Sold Beginning Merchandise Inventory Net Cost of Purchase Cost of Goods Available for Sale oss Ending Merchandise Inventory Check And Data Table s show the following data. the income statements) ind that the ending merchand correct 2017 2019 5 203,000 2018 $164.000 $ 176,000 $ Ending Inventor by Net Sales Revenue Cost of Goods Sold Beginning Merchandise Inventory Net Cost of Purchases Cost of Goods Available for Sale $ 25,000 135.000 $ 31000 94000 13,000 86.000 160.000 34000 125.000 25,000 129,000 31000 125.000 100 000 98,000 ise Inventory Less: Ending Merchandise Inventory Cost of Goods Sold Gross Profit 77.000 48,000 64.000 35 000 73,000 39,000 es able for Sale Operating Expenses 5 29.000 S 5 28,000 39,000 andise Inventory Net Income Print Done Clear All This DemoDocs Example Get More Help 87"F Rain coming early 2020, auditors found that the ending merchandise inventory for 2017 was understated by 54,000 and that the ending merchandise inven cember 31, 2018, was correct. ad the requirements Ending Merchandise Inventory Overstated by $5,000 Ending Merchandise Inventory Understated by $4,000 Correct et Sales Revenue ost of Goods Sold Beginning Merchandise Inventory Net Cost of Purchases Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold ross Profit Pperating Expenses Jet Income rs Requirements 0 1. Prepare corrected income statements for the three years. 2. State whether each year's net incomebefore your correctionsis understated or overstated, and indicate the amount of the understatement or overstatement 3. Compute the inventory turnover and days' sales in inventory using the corrected income statement for the three years. (Round all numbers to two decimals.) Print Done