Effects of an Error in Ending Inventory Waymire Company prepared the partial income statements presented below for 2023 and 2022. During 2024, Waymire's accountant discovered that ending inventory for 2022 had been understated by $6,500. Required: 1. Prepare corrected income statements for 2023 and 2022 . Use the minus sign for negative values. 2. Prepare a schedule showing each financial statement item affected by the error and the amount of the error for that item (ignore the effect of income taxes). Use a minus sign() to indicate if an error is an understatement. If no entry is required, leave the amount box blank