Partial income statements for Sherwood Company summarized for a four$-$year period show the following:Net SalesCost of Goods SoldGross Profit$2018$$ $2,700,0001,512,000$$ $1,188,0002019$$ $3,100,0001,705,000$$ $1,395,0002020$$ $3,200,0001,824,000$$ $1,376,0002021$$ $3,700,0002,072,000$$ $1,628,000$An audit revealed that in determining these amounts, the ending inventory for $2019$ was overstated by $$22,800.$ The inventory balance on December $31,2020,$ was accurately stated. The company uses a periodic inventory system.Required:$1.$ Restate the partial income statements to reflect the correct amounts, after fixing the inventory error$\mathrm{.}2-$a$.$ Compute the gross profit percentage for each year $($a$)$ before the correction and $($b$)$ after the correction$\mathrm{.}2-$b$.$ Do the results lend confidence to your corrected amounts?