Partial income statements for Sherwood Company summarized for a four-year period show the following: Net Sales Cost of Goods Sold Gross Profit 2018 $ 2,050,000 1,414,500 2019 $ 2,450,000 1,666,000 2020 $ 2,550,000 1,785,000 2021 $ 3,050,000 2,104,500 $ 635,500 $ 784,000 $ 765,000 $ 945,500 An audit revealed that in determining these amounts, the ending inventory for 2019 was overstated by $20,200. 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. 2-a. Compute the gross profit percentage for each year (a) before the correction and (b) after the correction. 2-b. Do the results lend confidence to your corrected amounts?