Ortiz Beauty Products counts their physical inventory once per year. The value assigned to their year-end inventory was $42,000. A week after counting inventory and completing the financial statements, the owner discovered $6,000 in inventory that had not been counted but should have been. The information was then reported to the accountant. a) Create a mini-income statement including the incorrect ending inventory on the spreadsheet provided. Net sales for the period were $525 000; beginning inventory was $81, 000; purchases were $23 000; and operating expenses were $210 000. b) Create a revised income statement with the correct ending inventory figure. c) Evaluate the effect of the mistake on each of the following i) cost of goods sold ii) gross profit iii) net income d) If the mistake on the ending inventory had not been caught, would it have caused errors on the financial statements of the following year (2016)? Explain why or why not