P7-5 Analyzing and Interpreting the Effects of Inventory Errors LO7-5 The statements of earnings for Pruitt Company summarized for a four-year period show the following (amounts in thousands of dollars): An audit revealed that in determining these amounts, the ending inventory for 2019 was understated by $62. Required: 1. 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? Not affected Affected 3. What effect did the error have on the income tax expense for 2019 and 2020 ? (Do not round intermediate calculations. Round the final answers to the nearest dollar amount.)