sheffield incSheffield Inc. reported the following partial statement of income data for the years ended December $31,2024$ and $2023$ :

The company reported inventory in the statement of financial position at $$46,000,$$$49,500,$ and $$48,000$ at the end of $2022,2023,$

and $2024,$ respectively. The ending inventory amounts for $2022$ and $2024$ are correct. However, the company has understated the

ending inventory at December $31,2023,$ by $$7,620.$

$($a$)$

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Prepare correct statements of income for $2023$ and $2024$ through to gross profit.

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$($b$)$

What is the cumulative effect of the inventory error on total gross profit for these two years? $($If answer is zero, please enter $0,$ do

not leave any fields blank.$)$

Cumulative effect of the imventory error on total gross profit $