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The statements of earnings for Pruitt Company summarized for a four-year period show the following (amounts in thousands of dollars): Sales revenue 2021 $2,225
The statements of earnings for Pruitt Company summarized for a four-year period show the following (amounts in thousands of dollars): Sales revenue 2021 $2,225 2020 $2,650 2019 2018 $2,900 $3,175 Cost of sales 1,605) 1,727 1,882 2,213 Gross profit 620 923 1,018 962 Operating expenses: 510 533 558 5621 Pretax earnings 110 390 460 400 Income tax expense (30%) 33 117 138 120 Net earnings $ 77 $ 273 $ 322 $ 280 An audit revealed that in determining these amounts, the ending inventory for 2019 was understated by $26. 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.) Sales revenue i Cost of sales Gross profit Operating expenses Pretax earnings Income tax expense Net earnings PRUITT COMPANY Corrected Statement of Earnings 2020 2021 2019 2018
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