Hull Company reported the following income statement information for the current year. Sales $414, 000 Cost of goods sold: Beginning inventory $138, 000 Cost of goods purchased 277, 000 Cost of goods available for sale 415, 000 Ending inventory 148, 000 Cost of goods sold 267, 000 Gross profit $147, 000 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $24,000. Given this information, the correct gross profit would be