Hull Company reported the following income statement information for the current year: Sales $ 430,000 Cost of goods sold: Beginning inventory $ 162,000 Cost of goods purchased 293,000 Cost of goods available for sale 455,000 Ending inventory 164,000 Cost of goods sold 291,000 Gross profit $ 139,000 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $20,000. Given this information, the correct gross profit would be: Multiple Choice $119,000. $139,000. $159,000. $112,000.