Griffin Corporation prepared the following two income statements (simplified for illustrative purposes): Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold Gross profit Expenses Pretax income First Quarter $ 5,700 4,300 Required 1 10,000 5,200 Required 2 $ 17,300 4,800 12,500 6,300 $ 6,200 Second Quarter $ 5,200 13,700 18,900 10,500 During the third quarter, it was discovered that the ending inventory for the first quarter should have been $5,730. $22,800 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. Required 3 Required 4 8,400 14,400 6,800 $ 7,600 Complete this question by entering your answers in the tabs below. What effect did this error have on the combined pretax income of the two quarters? Effect on combined pretax income

During the third quarter, it was discovered that the ending inventory for the first quarter should have been $5730 Required: 1. What effect did this error have on the combined pretax income of the two gusiters? 2. Which quarter's or quarters' if any) EPS amounts were affected by this eirom 3. Prepare corrected income statements for each qualter. Complete this question by entering your answers in the tabs below. What effect did this error havo on the combined pretax income of the two quarters? 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. \begin{tabular}{|l|l|} \hline Sales revenue \\ \hline Cost of goods sold: \\ \hline Beginning inventory \\ \hline Purchases \\ \hline Goods available for sale & \\ \hline Ending inventory & \\ \hline Cost of goods sold & \\ \hline Gross profit & \\ \hline Expenses & \\ \hline Pretax income & \\ \hline \end{tabular}