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 Anventory Cost of goods sold Gross profit $421,000 $148,500 284,000 432,500 155,000 277,500 $143,500 The beginning inventory balance is correct. However,the ending inventory figure was overstated by $31,000. Given this information, the correct gross profit would be