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Build Right Supply Co shows the following financial statement data for 2016, 2017 and 2018. Before issuing the 2018 statements, auditors found the ending inventory for 2016 was understated by 51.000 and that the ending inventory for 2018 was overstated by $3,000. The ending inventory at December 31, 2017, was correct (Click the icon to view the financial statement data) Read the requirements Requirement 1. State whether each year's net income before corrections is understated or overstated and indicate the amount of the understament or overstatement Year Prior to correction not income was 2016 2017 2018 - X * Requirements 1. State whether each year's net income before corrections is understated or overstated, and indicate the amount of the understatement or overstatement. 2. Prepare corrected income statements for the three years. 3. What will be the impact on the 2018 income statement if the 2016 inventory error is left uncorrected? Print Done