Please Provide Work! The answer given is not correct.

Several years ago, the financial statements of Gibson Greeting Cards, now part of American Greetings contained the following note: On July 1, the Company announced that it had determined that the inventory . had been overstated The overstatement of inventory. was $8,746,000. Gibson reported an incorrect net income amount of $25,952,000 for the year in which the error occurred and the income tax rate was 31.60 percent. Required: 1. Compute the amount of net income that Gibson reported after correcting the inventory error. Corrected net income11,850,913