TEAM Tue Nova Review Problem Set 7.pdf Use the following information to answer questions 4 and 5. At the beginning of Year 1, the company's inventory level was stated correctly. At the end of Year 1, inventory was understated by $2,000. At the end of Year 2, inventory was overstated by $450. Reported net income was $3,000 in Year 1 and $3,000 in Year 2. 4. The correct amount of net income in Year 1 is 5. The correct amount of net income in Year 2 is