Partial income statements for Murphy & Murphy (M & M) reported the following summarized amounts:

After these amounts were reported, M & M's accountant determined that the inventory on December 31, 2013, was understated by $3,000. The inventory balance on December 31, 2014, was accurately stated.
Required:
1. Restate the partial income statements to reflect the correct amounts, after fixing the inventory error.
2. Compute the gross profit percentage for all four years both (a) before the correction and (b) after the correction. Does the pattern of gross profit percentages lend confidence to your corrected amounts? Explain. Round your answer to the nearest percentage.
Gross profit percentage is calculated as (Gross Profit/Net Sales) × 100

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2012 2013 2014 2015 Net Sales Cost of Goods Sold Gross Profit $50,000 $49,000 $71,000 $58,000 14,000 28,000 21,000 17,500