Hull Company reported the following income statement information for the current year. Sales Cost of goods sold: Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Gross profit $416,000 $ 141,000 279,000 420,000 150,000 270,000 $ 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: Multiple Choice $120,000. $146,000. $172,000. $133,000. $115,000,