Nature Foods Grocery reported the following comparative income statements for the years ended June 30, 2025 and 2024: (Click the icon to view the comparative income statements.) During 2025Nature Foods Grocery discovered that ending 2024merchandise inventory was overstated by $5,500. Read the requirements. Requirement 1. Prepare corrected income statements for the two years. Nature Foods Grocery Income Statements Years Ended June 30, 2025 and 2024 2025 Sales Revenue Cost of Goods Sold: Beginning Merchandise Inventory Net Cost of Purchases Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold Gross Profit Operating Expenses Net Income Data table Net Sales Revenue Cost of Goods Sold: Beginning Merchandise Inventory Plus: Net Cost of Inventory Purchased Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold Gross Profit Operating Expenses Years Ended June 30, 2025 and 2024 2025 $ 134,000 Net Income Print $ 17,000 78,000 95,000 18,000 77,000 57,000 26,000 $ 31,000 Done Cloor all 2024 $ 14,000 67,000 81,000 17,000 - $ 119,000 $ 64,000 55,000 21,000 34,000 X Check answer

Nature Foods Grocery reported the following comparative income statements for the years ended June 30,2025 and 2024: III (Cick the icon to vited the comparntive income statements ) Durne 2025 Nasure FoodsGrocery discovered that ending 2024merchandise irventery was overstated by $5,500. Riond the regunements. Reouirement 1. Prepare corrected income statements for the two years