QUESTION $6(5$ marks$)$Assume that the John Henry Company had $$1,000,000$ of sales during each of $2022$ and $2023,$ and it purchased merchandise costing $$500,000$ during each of those years. Its beginning inventory for$2022$ was $$150,000$ and its ending inventory for $2023$ was $5210,000.$ However, it made an ean heat caused its ending $2022$ inventory to appear on its financial statements at $$180,000$ rather than thecorrect $$200,000.$ The company has a December $31$ year $-$ end.Required: SHOW YOUR WORK. $1.$ Calculate the correct amount of the companys gross margin $($gross proff$)$ for $2022$ and calculate the correct amount of the company's gross margin $($gross profit$)$ for $2023\mathrm{.}202220232.$ What is the effect of the emror on John Henry, Capital at December $31,2023-$ i$.$e$.,$ is the capital account overstated, understated, or correctly stated? Explain.