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Question 5 Mousse Turd Lice. reported the following comparative income statement for the years ended September 30, 2021, and 2022: Mousse Turd Ltee. Income Statement

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Question 5 Mousse Turd Lice. reported the following comparative income statement for the years ended September 30, 2021, and 2022: Mousse Turd Ltee. Income Statement For the Years Ended September 30 2022 2021 Sales revenue $194,000 $158,000 Cost of goods sold Beginning inventory. $ 23,000 $ 16,000 Purchases... 97,000 86,000 Goods available for sale. 120,000 102,000 Ending inventory (21,000) (23,000) Cost of goods sold. 99,000 79,000 Gruss profit 95,000 79,000 Operating expenses. 20,000 20,000 Net income $ 75,000 S 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 ending inventory was understated by $10,000. How well did Mousse really perform in 2022, as compared with 2021

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