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Prepare correct income statement data for the 2 years Sunland Company reported these income statement data for a 2-year period. Sales revenue Beginning inventory Cost
Prepare correct income statement data for the years
Sunland Company reported these income statement data for a 2-year period. Sales revenue Beginning inventory Cost of goods purchased Cost of goods available for sale Less: Ending inventory Cost of goods sold Gross profit 2024 $223,560 33,610 173,260 206,870 39,930 166,940 $56,620 2025 $256,200 39,930 212,930 252,860 57,060 195,800 $60,400 Sunland Company uses a periodic inventory system. The inventories at January 1, 2024, and December 31, 2025, are correct. However, the ending inventory at December 31, 2024, is overstated by $7,670. Prepare correct income statement data for the 2 years. 2024 2025 Sales revenue Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale Less: Ending inventory Cost of goods sold Gross profit
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