P7.5 Analyzing and Interpreting the Effects of Inventory Errors LO7-5 dolkarst: An audit revealed that in determining these amounts, the ending inventory for 2019 was understated by 532 Required: 1. Revise these statements of eamings to refiect the correct-amounts ; (Do not round intermedlate calculations. Round the fintal answers to the nearest doliar amount.) 2. Did the error affect the cumulative net eamings for the fouryear period? Not affected Affected 3. What effect did the effor have on the income tax expense for 2019 and 20207 fDo not round intermediate calculations: Round the final answers to the nearest dollar amount.) The statements of earnings for Pruitt Company summarized for a four-year perlod show the following (amounts in thousands of Sollarst An audit revealed that in determining these amounts, the ending inventory for 2019 was understated by $32. Required: Revise these statements of earnings to reflect the correct amounts. (Do not round Intermediate calculations, Round the final answers to the nearest dollar amount) 2. Did the error affect the cumulative net earnings for the four-year period? Notaffected Affected 3. What effect did the error have on the income tax expense for 2019 and 20202 ;Do not round intermediato calculations. Round the final answers to the nenrest dollar amount)