Healtiy Bite Grocery reported the following comparative income statements for the years ended November 30,2025 and 2024 (Click the icon to vew the comparative income statements) During 2025, Heaithy Bite Grocery discovered that ending 2024 merchandise ifventory was overstated by $4,800 Read the requirements. Requirements 1. Prepare correctod income statements for the two years 2. State whother each year's net income-before your corroctions-is understated of overstated, and indicate the amount of the understatement or overstatement Requirement 1. Prepare corrected income statements for the two years Requirement 2. State whether each year's net income - before your correchons-is understaled or overstated, and indicato the aniount of the understafement or overstafement. Healthy Bite Grocery reported the following comparative income statements for the years ended November 30,2025 and 2024 (Click the icon to view the comparative income statements) During 2025, Healthy Bite Grocery discovered that ending 2024 merchandise inventory was overstated by $4,800 Read the requirements. Requirement 1. Prepare corrected income statements for the two years Requirement 2. State whether each year's not income-before your corrections-is understated or overstased, and indicate the amount of the understatement or overstatement. \begin{tabular}{|c|c|} \hline Yoar. Net income prior to correction \\ \hline 2025 & \\ \hline 2024 & \\ \hline \end{tabular} Requirements 1. Prepare corrected income statements for the two 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. Healtiy Bite Grocery reported the following comparative income statements for the years ended November 30,2025 and 2024 (Click the icon to vew the comparative income statements) During 2025, Heaithy Bite Grocery discovered that ending 2024 merchandise ifventory was overstated by $4,800 Read the requirements. Requirements 1. Prepare correctod income statements for the two years 2. State whother each year's net income-before your corroctions-is understated of overstated, and indicate the amount of the understatement or overstatement Requirement 1. Prepare corrected income statements for the two years Requirement 2. State whether each year's net income - before your correchons-is understaled or overstated, and indicato the aniount of the understafement or overstafement. Healthy Bite Grocery reported the following comparative income statements for the years ended November 30,2025 and 2024 (Click the icon to view the comparative income statements) During 2025, Healthy Bite Grocery discovered that ending 2024 merchandise inventory was overstated by $4,800 Read the requirements. Requirement 1. Prepare corrected income statements for the two years Requirement 2. State whether each year's not income-before your corrections-is understated or overstased, and indicate the amount of the understatement or overstatement. \begin{tabular}{|c|c|} \hline Yoar. Net income prior to correction \\ \hline 2025 & \\ \hline 2024 & \\ \hline \end{tabular} Requirements 1. Prepare corrected income statements for the two 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
