Peaceful Carpets's books show the following data Click the icon to view the income statements.) In early 2020, auditors found that the ending merchandise inventory for 2017 was understated by $5,000 and that the ending merchandise inventory for 2019 was overstated by $6,000. The ending merchandise inventory at December 31, 2018, was correct Read the requirements Enaing merchandise unang merenanaise Inventory Overstated Inventory Understated by $6,000 Correct by $5,000 Net Sales Revenue Cost of Goods Sold Beginning Merchandise Inventory Net Cost of Purchases Cost of Goods Available for Sale Lens: Ending Merchandise Inventory Cost of Goods Sold Gross Profit Operating Expenses at Net Income Data Table 2019 2018 2017 $ 211,000 $ 162,000 $ 172,000 en $ 23,000 135,000 $ 27,000 98,000 44,000 83,000 Me Net Sales Revenue Cost of Goods Sold: Beginning Merchandise Inventory Net Cost of Purchases Cost of Goods Available for Sale Lens Ending Merchandise Inventory Cont of Goods Sold Gross Profit Operating Expenses Net Income 158,000 31,000 125,000 23,000 127,000 27,000 bod 127,000 102,000 Hing 100,000 ood B4,000 57,000 60,000 35,000 72.000 39,000 $ 27,000 $ 25,000 33,000 Print Done nt 2 tatem Requirement 2. State whether each year's net income-before your corrections understated or overstated, and indicate the amount of the understatement or overstatement Prior to correction net income was Year: 2019 2018 2017 Requirement 3. Compute the inventory tumover and days' sales in inventory using the corrected income statement for the three years. (Round all numbers to two decimals. Select the labels and enter the amounts to compute inventory turnover for each year. (Round your answers to two decimal places, XXX) Inventory turnover 2019 2015 times times 2017 times Now Select the labels and enter the amounts to compute days' sales in inventory for each year. (Enter all amounts to two decimal places, XXX) Days' sales in inventory 2010 days 2018 days 2017 days