E6-28A (similar to) Question Help Giselle Tile & Marble Corporation reported the following comparative income statements for the years ended June 30, 2018, and 2017: Click the icon to view the comparative income statement.) Giselle's president and shareholders are thrilled by the company's boost in sales and net income during 2018. Then the accountants for the company discover that ending 2017 inventory was understated by $7,500 Read the requiremen Prepare the corrected comparative income statement for the 2-year period. Giselle Tile & Marble Corporation Income Statements (Corrected) Years Ended June 30, 2018 and 2017 2018 2017 141.000) 118.000 Sales revenue Cost of goods sold: Beginning inventory Net purchases Cost of goods available Ending inventory Cost of goods sold Gross profit Operating expenses Net income Tile & Marble Corporation reported the following comparative income statements for the years ended June 30, 2018, and 2017: ck the icon to view the comparative income statement) s president and shareholders are thrilled by the company's boost in sales and net income during 2018. Then the accountants for the - that ending 2017 inventory was understated by $7,500. me requirement. the corrected ca i Data Table Sales revenue Cost of goods sol Beginning in Net purchase Cost of good Ending inven Cost of good Gross profit Operating expens Giselle Tile & Marble Corporation Income Statements For the Years Ended June 30, 2018 and 2017 2018 2017 Sales revenue $ 141.000 $ 118,000 Cost of goods sold Beginning inventory $ 16,500 $ 14,000 Net purchases 76,000 70,000 Cost of goods available 92,500 84,000 Ending inventory (16,000) (16,500) Cost of goods sold 76,500 67,500 Gross profit 64,500 50,500 Operating expenses 28,000 18,000 Net Income $ 36,500 $ 32,500 Net income Print Print Done Years Ended June 30, 2018 and 2017 2018 2017 141,000 118,000 Requirement revenue of goods sold: Beginning inventor et purchases Cost of goods avai Ending inventory Cost of goods sold ss profit rating expenses 1 income 1. Prepare the corrected comparative income statements for the two-year period, complete with a heading for the statements. How well did Giselle really perform in 2018 as compared with 2017? Print Done