Exercise 222 Condensed income statements for Pina Colada Corporation are shown below for two years. Sales Cost of Goods Sold Gross Profit Operating Expense Net Income 2021 2022 $79,500 $95,400 47,700 57,240 $31,800 $38,160 15,900 15,900 $15,900 $22,260 Compute the corrected net income for 2021 and 2022 assuming that the inventory as of the end of 2021 was mistakenly understated by $ 2021 2022 Corrected net income Click if you would like to Show Work for this question: Open Show Work Exercise 222 Condensed income statements for Pina Colada Corporation are shown below for two years. Sales Cost of Goods Sold Gross Profit Operating Expense Net Income 2021 2022 $79,500 $95,400 47,700 57,240 $31,800 $38,160 15,900 15,900 $15,900 $22,260 Compute the corrected net income for 2021 and 2022 assuming that the inventory as of the end of 2021 was mistakenly understated by $ 2021 2022 Corrected net income Click if you would like to Show Work for this question: Open Show Work