Homework: ... Question 4, E6-30A (simil... HW Score: 62.5%, 12.5 of 20 points Part 1 of 2 Points: 0 of 5 Save Flamingo Tile & Marble Corporation reported the following comparative income statements for the years ended September 30, 2021, and 2020: Click the icon to view the comparative Income statement.) Flamingo'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 $10,000, Read the requirement 2021 2020 134.000 115,000 Sales revenue Cost of goods sold: Beginning inventory Not purchases Cost of goods available Ending inventory Cost of goods sold Gross profit Operating expenses UN Net incomo Data Table TOMC Tears Tucu opremurov, zoranu uz 2021 2020 $ 134,000 $ 115,000 Sales revenue Cost of goods sold: Beginning inventory $ 18,000 76,000 $ 14,000 74,000 Net purchases Cost of goods available I Ending inventory Cost of goods sold Gross profit 94,000 (19,500) 88,000 (18,000) 74,500 70,000 59,500 28,000 45,000 21,000 Operating expenses $ 31,500 $ 24,000 Net income 1. Prepare the corrected comparative income statements for the two-year period, complete with a heading for the statements. How well did Flamingo really perform in 2021 as compared with 2020