Part 1 of 2 Homework: .. Question 4, E6-30A (simi.. HW Score: 62.5%, 12.5 of 20 points Points: 0 of 5 Save Flamingo Tile & Marble Corporation reported the following comparative Income statements for the years ended September 30, 2021, and 2020 Click the icon to view the comparative income statement) Flamingo's president and shareholders are thrilled by the company's boost in sales and net income during 2021. Then the accountants for the company discover that ending 2020 Inventory was understated by $10,000 Read the requirement DER Prepare the corrected comparative income statement for the 2-year period, Flamingo Tile & Marble Corporation Income Statements (Corrected) Years Ended September 30, 2021 and 2020 2021 hog 2020 Sales revenue ber 134,000 115,000 Data Table Cost of goods sold Beginning inventory Not purchase Cost of goods available Ending inventory Flamingo Tile & Marble Corporation Income Statements For the Years Ended September 30, 2021 and 2020 2021 2020 Print Answer ang ts fo For the Years Ended September 30, 2021 and 2020 2021 2020 Sales revenue $ 134,000 $ 115,000 $ 18,000 76,000 $ 14,000 74,000 Cost of goods sold: Beginning inventory Net purchases Cost of goods available Ending inventory Cost of goods sold Gross profit Operating expenses 94,000 (19,500) 88,000 (18,000) 74,500 70,000 59,500 28,000 45,000 21,000 Net income $ 31,500 $ 24,000 Print Done