TUI, UCIS, du cyully. Part 2 Assume Swiss Company, a competitor to Swatch, had $435,000 of sales during each of three consecutive years, and it purchased merchandise costing $300,000 during each of the years. It also maintained a $105,000 inventory from the beginning to the end of the three-year period. However, $15,000 of merchandise inventory purchased FOB shipping point on December 31, 2020, was accidentally excluded from the December 31, 2020, inventory. This error caused the company's ending 2020 inventory to appear on the statements at $90,000 rather than at the correct $ 105,000. Required 1. Calculate the actual amount of the company's gross profit in each of the years. 2. Prepare a comparative income statement like Exhibit 6.12 to show the effect of this error on the company's cost of goods sold and gross profit in 2020 2021, and 2022. Page 428 OLUTION