Data table Artique Cartets' books show the following deta. (Cick tha ican to vitw the inceeme alatotranta.) In early 2026, audilors leund that the ending merchandise imventory for 2023 was understated by $7,000 and that the ending merchandise inventery for 2025 was cverstated by $8,000, The ending menchandise invertary at December 31, 2024, was correct. Read the reouifements Requirement 1. Prepase corrected income statements lor the three years. Requirement 2. State whether eash year's net incame-before your cerrectiens-is understated er everstated, and indicate the amount of the understatemtnt er overstakement Reguirement 3. Compate the imentory bumsver and days' sales in imventory uting the corrected income stalemend for the tfree years. (Round all numbers to havo decimals.) Select the labeis and enter the amounts to compute inventery turnover for each year. (Rsund your answers 10 Nwo decimal piaces, X xx