I need help urgently, I don't understand this part. A step-by-step would be nice.

Understated by 9000.

Prepare the corrected comparative income statement for the 2-year period. Data Table Big Blue Tile & Marble Corporation Income Statements (Corrected) Years Ended September 30, 2021 and 2020 2021 Income Statements For the Years Ended September 30, 2021 and 2020 2021 2020 2020 Sales revenue 136000 119000 Sales revenue $ 136,000 $ 119,000 9000 Cost of goods sold: Beginning inventory Net purchases Cost of goods available Cost of goods sold: Beginning inventory 79000 69000 $ $ 12,000 79,000 9,000 69,000 78000 Net purchases Cost of goods available Ending inventory 91,000 (19,500) 78,000 (12,000) Ending inventory Cost of goods sold Gross profit 71,500 66,000 Cost of goods sold Gross profit 26000 25000 Operating expenses 64,500 26,000 53,000 25,000 Operating expenses Net income $ 38,500 $ Net income 28,000 Print Done