The accounting records of Chan Music Stores show these data (in thousands):

In early 2018, a team of auditors discovered that the ending inventory of 2015 had been understated by $10 thousand. Also, the ending inventory for 2017 had been overstated by $6 thousand. The ending inventory at December 31, 2016, was correct.
Required
1. Show corrected comparative income statements for the three years.
2. State whether each year's net income as reported here and the related owner's equity amounts are understated or overstated. For each incorrect figure, indicate the amount of the understatement or overstatement.

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2017 2016 2015 Net sales revenue $426 $366 $378 Cost of goods sold: Beginning inventory Net purchases Cost of goods available Less: Ending inventory Cost of goods sold $ 56 276 332 92 S 80 240 320 56 $96 216 312 80 Gross margin Operating expenses Net income 240 186 148 S 38 264 102 92 $ 10 232 146 110 36