$[$The following information applies to the questions displayed below.$]$

The income statement for Pruitt Company summarized for a four$-$year period shows the following:

An audit revealed that in determining these amounts, the ending inventory for $2017$ was overstated by $$22,000.$ The

company uses a periodic inventory system.

P$7-6$ Part $1$

Required:

Prepare the income statements to reflect the correct amounts, taking into consideration the inventory error.