Marion Mustard Lte. reported the following comparative income statement for the years ended September 30, 2019, and 2020 (Click the icon to view the comparative income statement.) Marion's shareholders are thrilled by the company's boost in sales and net income during 2020. Then they discover that the 2019 ending inventory was understated by $12,500 Requirement Prepare the corrected comparative income statements for the two-year period, complete with a heading for the statements. How well did Marion really perform in 2020, as compared with 2019? Prepare the corrected comparative income statement for the two-year period Data Table Marion Mustard Lte. Income Statement (Corrected) Years Ended September 30, 2020, and 2019 Marion Mustard Lte. 2020 2019 Income Statement For the Years Ended September 30, 2020, and 2019 Sales revenue 2020 2019 Cost of goods sold Sales revenue $ 198,000 $ 164.000 Beginning inventory Purchases Cost of goods sold Beginning inventory $ 22,000 $ 17,500 89,000 Goods available for sale 95,000 Purchases Ending inventory Goods available for sale 117 000 106,500 (22,000) (18,500) Ending inventory Cost of goods sold Gross profit Operating expenses 98,500 84,500 Cost of goods sold Gross profit 99.500 29.000 79,500 21 000 Net income Operating expenses S 70,500 $ 58 500 Net income Check A Calculator Help Me Solve This Get More Help 01:4 17-1 12C Light rain LG G2) E - ENG 1 gi