TO OUD ( ) Question Help Peaceful Carpet's books show the following data cok the loon to view the income watements) in early 2020, auditors found t he ending merchandise inventory for 2017 was underwed by $7.000 and that the ending merchandise inventory for 2019 was overstated by 50,000. The ending merchandise inventory at December 31, 2018, was correct Read the requirements Data Table 2019 2018 $ 2017 $ $ 205,000 163,000 175,000 $ 22,000 130,000 25,000 92,000 41,000 82,000 Net Sales Revenue Cost of Goods Sold Beginning Merchandise Inventory Net Cost of Purchases Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold Gross Profit Operating Expenses Net Income 152,000 30,000 117,000 22,000 123,000 25,000 122,000 95,000 98,000 83,000 54,000 29,000 68,000 40,000 77,000 44,000 33,000 $ 28,000 Print Done Peaceful Carpets Income Statement For the Years Ended December 31, 2019, 2018, and 2017 2019 2018 Ending Merchandise Inventory Overstated by $8,000 2017 Ending Merchandise Inventory Understated by $7,000 Correct Net Sales Revenue Cost of Goods Sold: Beginning Merchandise Inventory Net Cost of Purchases Net Sales Revenue Cost of Goods Sold: Beginning Merchandise Inventory Net Cost of Purchases Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold Gross Profit Operating Expenses Net Income