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Data table Net sales revenue Cost of goods sold: Beginning inventory Net purchases Cost of goods available Less ending inventory Cost of goods sold Gross
Data table Net sales revenue Cost of goods sold: Beginning inventory Net purchases Cost of goods available Less ending inventory Cost of goods sold Gross profit Operating expenses Net income 69 2021 $ 44 2020 SA $ - X 41 2019 $ 38 7 $ 6 SA 32 30 28 39 36 (8) (7) 33 (6) 5239 31 29 27 13 12 11 7 7 7 6 $ 5 Print Done Requirements 1. Show corrected income statements for each of the three years. 2. How much did these assumed corrections add to or take away from Downtown's total net income over the three-year period? How did the corrections affect the trend of net income? 3. Will Downtown's shareholders still be happy with the company's trend of net income? Explain. Print Done - Years Ended December 31, 2021, 2020, and 2019 Net sales revenue Cost of goods sold: Beginning inventory Net purchases Cost of goods available Less ending inventory Cost of goods sold Gross profit Operating expenses Net income 2021 2020 2019 Requirement 2. How much did these assumed comections add to or take away from Downtown's total net income over the three-year period? How did the comections affect the brand of net income? How much did these assumed corrections add to or take away from Downtown's total net income over the three-year period? How did the corrections affect the trend of net income? Requirement 3. WE Downtown's shareholders still be happy with the company's trend of net income? Explain. The shareholders be happy with the trend of net income because
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