Evergreen Carpets books show the following data Click the icon to www he can wat wwy 2006 store found that the ending merchandise inventory box 2003 et understated by $4.000 and that the ending merchandise Inventory tor 2015 was crowd by 9.000. The ending merchandise eventory at December 31, 2024. Hequirements Ending Merchandise Inventory Understated by 14.000 Evergreen Carpets Income Statement For the Year Ended December 31, 2025 2024 and 2023 2025 Ending Merchandise Inventory Overstated by 15.000 Gurrect NAR Costoso leginning Merchandise Pue el cost of a Castwood Erry Merchandiser Colof Goods Sold GoPro Og Es 1. Prepare corrected income se for years 2. Whether each year's recome your correction do www and Indone amount menter over 1. Compute the wory mover and more donte te three years, and so we Print Done Nam Requirements 1. Prepare corrected income statements for the three years. 2. State whether each year's net income before your corrections is understated or overstated, and indicate the amount of the understatement or overstatement 3. Compute the inventory turnover and days' sales in inventory using the corrected income statement for the three years. (Round all numbers to two decimals.) Print Done al Data Table 2025 2024 2023 Net Sales Revenue $ 200,000 S $ 169,000 179,000 ad Cost of Goods Sold: $ 50,000 $ 26,000 136,000 $ 32,000 98,000 Beginning Merchandise Inventory Plus: Net Cost of Inventory Purchased Cost of Goods Available for Sale 86,000 130,000 136,000 162,000 34,000 26,000 32,000 128,000 104,000 104.000 Less: Ending Merchandise Inventory Cost of Goods Sold Gross Profit Operating Expenses 72,000 46,000 65,000 37,000 75,000 40,000 $ 26,000 28,000 35,000 Not Income Print Done