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Question 5 Mouse Turd Ltee reported the following comparative income statement for the years ended September 30, 2021, and2022 Mousse Turd Ltee. Income Statement For

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Question 5 Mouse Turd Ltee reported the following comparative income statement for the years ended September 30, 2021, and2022 Mousse Turd Ltee. Income Statement For the Years Ended September 30 2022 2021 Sales revere $194,000 $158.000 Cost of apods sold Beginning inventory $ 23,000 $ 16,000 Purchases 97,000 $6,000 Goods available for sale 120,000 102,000 Ending inventory (21,000 (23.000) Cost of gods sold 99,000 79,000 Grossprofit 95,000 79,000 20,000 20,000 Operating expenses Net income $ 75,000 $59.000 Mousse's shareholders are thrilled by the company's boost in sales and net income during 2022. Then they discover that the 2021 endinginventory was understatedby$10,000. How well did Mousse really perform in 2022, as compared with 2021

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