Novak Corp.reported these income statement data for a 2 year period. 2022 2021 Sales revenue $273,800 $193.780 Beginning inventory 41,580 30,160 Cost of goods purchased 189,790 182.460 Cost of goods available for sale 231.370 212.620 58.790 41.580 Less: Ending inventory Cost of goods sold Gross profit 172.580 171.040 $101.220 $22.740 Novak Corp.uses a periodic inventory system. The inventories at January 1, 2021, and December 31, 2022, are correct. However, the ending inventory at December 31, 2021. is overstated by S7,300 Prepare correct income statement data for the 2 years. 2021 2022 Sales Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale Less: Ending inventory Cost of goods sold Gross profit What is the cumulative effect of the inventory error on total gross profit for the 2 years? The cumulative effect on total gross profit for the two years is $