European Tile & Martie 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) European's president and shareholders are thrilled by the company's boost in sales and net income during 2018. Then the accountants the company discover that ending 2017 inventory was understated by 56,000 Read the reavement Data Table Prepare the corrected comparative Income statement for the 2-year period European Tile & Marble Corporation Income Statements (Corrected] Years Ended June 30, 2018 and 2017 2018 2017 Sales revenue Cost of goods sold Beginning inventory Net purchases Cost of goods avalabile Ending inventory Cost of goods sold Gross proft Operating expenses IIIT European Tile & Marble Corporation Income Statements For the Year Ended June 30, 2018 and 2017 2018 2017 Sales revenue $ 141,000 5 121.000 Cost of goods sold Beginning inventory $ 14,000 $ 12.000 79.000 68.000 No purchases Cost of goods available 93.000 80.000 Ending inventory 117.000) 114.000 70.000 60.000 Cost of goods to Gross proft 65.000 55.000 23.000 20.000 Operating expenses $42.000 $ 35.000 Net income Net income Print Done