Partial income statements for Sherwood Company summarized for a four-year period show the following: 2015 2016 2017 2018 Cost of Goods Sold Gross Profit $1,500,000 $1,900,000 $2,000,000 $2,500,000 ,125,000 1.406,000 1,520,0001,875,000 375,000 494,000 $480,000 625,000 An audit revealed that in determining these amounts, the ending inventory for 2016 was overstated by $15,000. The inventory balance on December 31, 2017, 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 2-a. Compute the gross profit percentage for each year (a) before the correction and (b) after the correction. 2-b. Does the pattern of gross profit percentages lend confidence to your corrected amounts? Complete this question by entering your answers in the tabs belo Req 1 Req 2A Req 2B nts (Corrected) 2016 2015 2017 2018 Sold Req 2A >