On December 31, 2016, Sparky Co. reported Current Assets of $200, 000 and Current Liabilities of Sparky was reviewing several transactions that involved inventory at their year-end The company use the periodic system. They discover that the following items may have been recorded incorrect Goods purchased costing $12,000 were shipped f.o.b. destination by a supplier on December 26 and on December 29. Sparky had not received or recorded the invoice on December 31 although the included in the ending inventory count. Goods were sold for a selling price of $20, 000 and shipped f.o.b. destination to a customer on December 28 Sparky has a mark-up on cost of 25%. Sparky recorded the sale on December 28; the goods were excluded from the inventory because they were not in the warehouse. At year-end, the goods were still in transit. Goods out on consignment to Bee Company were excluded from Sparky's physical count of inventory. The consigned goods had a retail selling price of $15,000 and a markup on cost of 50%. After all corrections are made, what are total current assets? After all corrections are made, what are total current liabilities? If Sparky's operating income before any adjustments for errors was $200, 000, determine Sparky's corrected operating income