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Vibrant Company had $850,000 of sales in each of three consecutive years 2017-2019, and it purchased merchandise costing $500,000 in each of those years. It also maintained a $250,000 physical inventory from the beginning to the end of that three year period. In accounting for inventory, it made an error at the end of year 2017 that caused its year-end 2017 inventory to appear on its statements as $230,000 rather than the correct $250,000 Required: 1. Determine the correct amount of the company's gross profit in each of the years 2017 2019 2. Prepare comparative income statements to show the effect of this error on the companys cost of goods sold and gross profit for each of the years 2017-2019 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare comparative Income statements to show the effect of this error on the company's cost of goods sold and gross proht for each of the Years 2017-2019 Required 1 Required 2 Prepare comparative income statements to show the effect of this error on the company's cost of goods sold and gross profit for each of the years 2017-2019. VIBRANT COMPANY Comparative Income Statements 2017 2018 2019 3.yuar total $ Cost of goods sold 0 0 0 Cost of goods sold Gross profit $ 0 S 0 $ OS 0