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The accounting records of Boston Home Store show these data (in millions): (Click the icon to view the income statements.) The shareholders are very

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The accounting records of Boston Home Store show these data (in millions): (Click the icon to view the income statements.) The shareholders are very happy with Boston's steady increase in net income. However, auditors discovered that the ending inventory for 2019 was understated by $6 million and that the ending inventory for 2020 was understated by $9 million. The ending inventory at December 31, 2021, was correct. Read the requirements. Requirement 1. Show corrected income statements for each of the three years. (Enter all amounts in millions as provided in the question.) Boston Home Store Income Statements (adapted; amounts in millions) Net sales revenue Years Ended December 31, 2021, 2020, and 2019 2021 2020 2019 Cost of goods sold: Beginning inventory Net purchases Cost of goods available Less ending inventory Cost of goods sold Gross profit Operating expenses Net income EA 6 15 Requirements 1. Show corrected income statements for each of the three years. 2. How much did these assumed corrections add to or take away from Boston's total net income over the three-year period? How did the corrections affect the trend of net income? 3. Will Boston's shareholders still be happy with the company's trend of net income? Explain. Data table Net sales revenue 2021 $ 42 2020 39 2019 7 24 24 62 $ 69 22 28 - 36 31 (8) (7) 23 21 16 15 2 2 15 $ 14 13 Cost of goods sold: Beginning inventory Net purchases 8 $ EA 26 Cost of goods available 34 (9) Less ending inventory Cost of goods sold Gross profit Operating expenses Net income $

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