Hull Company reported the following income statement information for the current year:

Sales	$	416,000
Cost of goods sold:
Beginning inventory	$	141,000
Cost of goods purchased		279,000
Cost of goods available for sale		420,000
Ending inventory		150,000
Cost of goods sold		270,000
Gross profit	$	146,000

The beginning inventory balance is correct. However, the ending inventory figure was overstated by $26,000. Given this information, the correct gross profit would be: