Sheffield Corp. reported these income statement data for a 2-year period.

		2017		2016
Sales revenue		$227,600		$210,340
Beginning inventory		39,260		29,530
Cost of goods purchased		187,900		157,180
Cost of goods available for sale		227,160		186,710
Less: Ending inventory		60,080		39,260
Cost of goods sold		167,080		147,450
Gross profit		$60,520		$62,890

Sheffield Corp. uses a periodic inventory system. The inventories at January 1, 2016, and December 31, 2017, are correct. However, the ending inventory at December 31, 2016, is overstated by $7,850.

(a)

	Your answer is partially correct. Try again.

Prepare correct income statement data for the 2 years.

			2016		2017
Sales			$		$
Cost of goods sold
Beginning inventory
Cost of goods purchased
Cost of goods available for sale
Less:	Ending inventory
	Cost of goods sold
Gross profit			$		$