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Revise statement of earnings to reflect correct amounts The statements of earnings for Prult Company summarized for a four-year period show the following famounts in
Revise statement of earnings to reflect correct amounts
The statements of earnings for Prult Company summarized for a four-year period show the following famounts in thousands of dollars): 2021 $3,725 2,355 1.370 Sales revenue Cont of salen Gross profit Operating expenses Pretax earnings Income tax expense (401) Net earnings 2020 $4,150 2,477 1.673 683 990 396 594 660 2018 54,675 2,963 1.712 712 1,000 2012 54,400 2,632 1,768 700 1.060 424 S 636 710 280 426 400 600 An audit revealed that in determining these amounts, the ending inventory for 2019 was understated by $56. Required: 1. Revise these statements of earnings to reflect the correct amounts. (Do not round Intermediate calculations. Round the final answers to the nearest dollar amount.) PRUITT COMPUNY Corrected Statement of Earnings 2021 2020 2010 2018 Sales revenue Cost of sales Gross profit Operating expenses Pretax earnings Income tax expense Net earnings Step by Step Solution
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