! Required Information [The following information applies to the questions displayed below.] Over a four-year period, Jackie Corporation reported the following series of gross profits. 2018 2019 2020 2021 Net sales $48,000 $54,000 $62,000 $78,000 Cost of goods sold 23,600 37,600 19,600 39,600 Gross profit $ 24,400 $16,400 $42,400 $38,400 In 2021, the company performed a comprehensive review of its Inventory accounting procedures. Based on this review, company records reveal that ending Inventory was understated by $9,180 in 2019. Inventory in all other years is correct. Required: 1. Calculate the gross profit ratio for each of the four years based on amounts originally reported. (Round your answers to the nearest whole percent.) Gross Profit Ratio 2018 2019 % 2020 % 2021 % 2. Calculate the gross profit ratio for each of the four years based on corrected amounts. (Round your answers to the nearest whole percent.) Gross Profit Ratio % 2018 2019 % 2020 % 2021 %