lan's Small Appliances reported gross profit as follows: 2019 $105,000 2020 $125,000 Sales Cost of goods sold Beginning inventory Purchases Cost of goods available for sale Less: Ending inventory Cost of goods sold Gross Profit $16,000 86,500 102,500 (22,000) $80,500 $24,500 $ 22,000 101,000 123,000 (26,000) $97,000 $28,000 Analysis of inventories shows that lan's made a clerical error: 2019 ending inventory was overstated by $2,500 Required: Prepare the correct income statement data for 2019 and 2020