Griffin Corporation prepared the following two Income statements (simplified for illustrative purposes): First Quarter Second Quarter Sales revenue Cost of goods sold Beginning inventory $ 12,800 $18,300 $ 4,200 $ 3,700 Purchases 2,800 12,200 ok Goods available for sale 7,000 15,900 Ending inventory 3,700 9,000 Cost of goods sold 3,300 6,900 9,500 11,400 ht 4,800 5,300 $ 4,700 $ 6,100 Gross profit Expenses Pretax income During the third quarter, it was discovered that the ending Inventory for the first quarter should have been $4,280. Required: 1. What effect did this error have on the combined pretax income of the two quarters? 2. Which quarter's or quarters' (if any) EPS amounts were affected by this error? 3. Prepare corrected Income statements for each quarter. 4. Prepare the schedule to reflect the comparative effects of the correct and Incorrect amounts on the income statement Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 What effect did this error have on the combined pretax income of the two quarters? Effect on combined pretax income