Football, Inc.'s clerk made a mistake while preparing the financial statements. The ending inventory for Year 1 should have been $20,000, but the clerk recorded it as $23,000 on the income statement. Assume that sales for Years 1 and 2 are $90,000 per year and purchases are $20,000 per year. Beginning inventory for Year 1 of $12,000 and ending inventory for Year 2 of $21,000 were correctly recorded. Complete the following income statement for Year 1 and 2.

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The Answer of Football, Inc.'s clerk made a mistake while preparing the financial statements. The ending inventory for Year 1 should have been $20,000, but the clerk recorded it as $23,000 on the income statement. Assume that sales for Years 1 and 2 are $90,000 per year and purchases are $20,000 per year. Beginning inventory for Year 1 of $12,000 and ending inventory for Year 2 of $21,000 were correctly recorded. Complete the following income statement for Year 1 and 2.