Hull Company reported the following income statement information for the current year $422,000 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 $150,000 285,000 435,000 156,000 279,000 $143,000 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $32,000 Given this information, the correct gross profit would be Multiple Choice SOOD 5143.000 $175.000 O $111,000. O $143,000. . O $175,000. O $124,000 O $118.000