6-30 Please show all work.

E6-30A. (Learning Objective 6: Analyze the effect of an inventory error) Banta Tile & Marble Corporation reported the following comparative income statements for the years ended November 30, 2021 and 2020: A1 B E 2021 $ 138,000 2020 $ 125,000 Banta Tile & Marble Corporation Income Statements 1 For the Years Ended November 30, 2021 and 2020 2 3 Sales revenue 4 Cost of goods sold: 5 Beginning inventory 6 Net purchases 7 Cost of goods available 8 Ending inventory 9 Cost of goods sold 10 Gross profit 11 Operating expenses 12 Net income 13 $ 15,000 78,000 93,000 (18,500) $ 14,500 66,000 80,500 (15,000) 74,500 63,500 31,000 $ 32,500 65,500 59,500 29,000 $ 30,500 Banta's president and shareholders are thrilled by the company's boost in sales and net income during 2021. Then the accountants for the company discover that ending 2020 inventory was understated by $8,500. Prepare the corrected comparative income statements for the two-year period, complete with a heading for the statements. How well did Banta really perform in 2021 as compared with 2020