Question: P7-6 (Algo) Analyzing and Interpreting the Effects of Inventory Errors LO7.5 [The following information applles to the questions displayed below.] The income statement for Prultt

[The following information applles to the questions displayed below.] The income statement

P7-6 (Algo) Analyzing and Interpreting the Effects of Inventory Errors LO7.5 [The following information applles to the questions displayed below.] The income statement for Prultt Company summarized for a four-year period shows the following: An audit revealed that in determining these amounts, the ending inventory for 2017 was overstated by $19.000. The company uses a periodic inventory system. Required: 1. Prepare the income statements to reflect the correct amounts, taking into consideration the inventory error

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