Giselle Tile & Marble Corporation reported the following comparative income statements for the years ended June 30, 2021, and 2020 (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 2021. Then the accountants for the company discover that ending 2020 inventory was understated by $10,000 Read the requireme Prepare the corrected comparative income statement for the 2-year period Giselle Tile & Marble Corporation Income Statements (Corrected) Years Ended June 30, 2021 and 2020 Data table Giselle Tile & Marble Corporation Income Statements 2021 2020 For the Years Ended June 30, 2021 and 2020 Sales revenue 134000 117000 Cost of goods sold Sales revenue 2021 $ 134,000 2020 $117.000 Beginning inventory 12000 12500 Cost of goods sold 75000 Net purchases 73000 Beginning inventory $12,000 Cost of goods available 67000 85500 Net purchases 75.000 $ 12.500 73.000 Ending inventory 21000 12000 Cost of goods available 87,000 85.500 (21,000) (12,000) Cost of goods sold 00000 73500 Ending inventory Grow 68000 Cost of goods sold 60.000 73.500 43500 Operating expe 20000 18000 Gross profit 60.000 43.500 Net income 39000 Operating expenses 29.000 18,000 25600 39,000 $ 25.500 Net income Requirement 1. Prepare the corrected comparative income statements for the two-year period complete with a heading for the statements How well did Gisele really perform in 2021 as compared with 2020 Print Done Print Done X Clear all