Homework: Chapter 6 Graded Homework Save Score: 0 of 2 pts 5016(5 complete) HW Score: 68.21%, 10.23 of 15 pts E6-30A (similar to) Question Help * Erie Craft Marine Supply reported the following comparative income statements for the years ended September 30, 2016, and 2015: (Click the icon to view the comparative income statement.) Erie Craft's president and shareholders are thrilled by the company's boost in sales and net income during 2016. Then the accountants for the company discover that ending 2015 inventory was understated by $7,000. 1 Prepare the corrected comparative income statements for the two-year period, complete with a heading for the statements. How well did Erie Craft Marine Supply really perform in 2016 as compared with 2015? Data Table Erie Craft Marine Supply Income Statements (Corrected) Years Ended September 30, 2016 and 2015 2015 Erie Craft Marine Supply Income Statements For the Years Ended September 30, 2016 and 2016 Sales revenue 141000 118000 Cost of goods sold: 2015 Beginning inventory Net purchases Cost of goods available Ending inventory Cost of goods sold 9500 67000 76500 2016 2015 Sales revenue S 141,000 $ 118,000 Cost of goods sold: Beginning inventory Net purchases Cost of goods available Ending inventory Cost of goods sold $ 9,500 67,000 76,500 (11,000) S 11,000 77,000 Gross proft Operating expenses Net income 88,000 (16,500) Gross proft Operating expenses Net income 71,500 69,500 32,000 S 37,500 65,500 52,500 18,000 $ 34,500 Enter any number in the edit fields and then click Check Answer. part swer