Griffin Corporation prepared the following two income statements (simplified for illustrative purposes): First Quarter Second Quarter Sales revenue $ 12,800 $18,300 Cost of goods sold Beginning inventory Purchases $ 4,200 2,800 Goods available for sale 7,000 3,700 $ 3,700 12,200 15,900 9,000 3,300 Gross profit 9,500 6,900 11,400 4,800 5,300 $ 4,700 Ending inventory Cost of goods sold Expenses Pretax income $ 6,100 During the third quarter, it was discovered that the ending inventory for the first quarter should have been $4,280. Required: 1. What effect did this error have on the combined pretax income of the two quarters? 2. Which quarter's or quarters' (if any) EPS amounts were affected by this error? 3. Prepare corrected income statements for each quarter. 4. Prepare the schedule to reflect the comparative effects of the correct and incorrect amounts on the income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare the schedule to reflect the comparative effects of the correct and incorrect amounts on the income statement. 1st Quarter 2nd Quarter Check my work