A company reported ending inventory of $107,000 in Year 1. It was discovered in Year 2 that the correct value of the ending inventory was $101,000 for Year 1, and a correction was made. Complete the following table based on this information. Assume the company uses the perpetual inventory system.

Do not enter dollar signs or commas in the input boxes.

Enter a negative sign as appropriate for the Profit(Loss) line item.

Item	Reported	Correct Amount
Inventory	$107,000	$Answer
Current Assets	$143,000	$Answer
Total Assets	$535,000	$Answer
Owner's Equity, Year 1	$249,000	$Answer
Sales	$1,140,000	$Answer
Cost of Goods Sold	$570,000	$Answer
Profit (Loss) for Year 1	$12,000	$Answer