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Bienvenu Enterprises reported cost of goods sold for 2026 of $1,400,000 and retained earnings of $5,200,000 at December 31, 2025. Bienvenu later discovered that its

Bienvenu Enterprises reported cost of goods sold for 2026 of $1,400,000 and retained earnings of $5,200,000 at December 31, 2025. Bienvenu later discovered that its ending inventories at December 31, 2025 and 2026, were overstated by $110,000 and $35,000, respectively. Determine the correct amounts of Cost of Goods Sold, Net Income, and Retained Earnings for 2025 and 2026.

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