Blue Enterprises reported cost of goods sold for 2025 of $1,307,500 and retained earnings of $5,383,000 at December 31,2025 . Blue later discovered that its ending inventories at December 31,2024 and 2025 , were overstated by $118,630 and $36,930, respectively. Determine the corrected amounts for 2025 cost of goods sold and December 31,2025 , retained earnings. Corrected cost of goods sold Corrected 12/31/25 retained earnings $ Blue Enterprises reported cost of goods sold for 2025 of $1,307,500 and retained earnings of $5,383,000 at December 31,2025 . Blue later discovered that its ending inventories at December 31,2024 and 2025 , were overstated by $118,630 and $36,930, respectively. Determine the corrected amounts for 2025 cost of goods sold and December 31,2025 , retained earnings. Corrected cost of goods sold Corrected 12/31/25 retained earnings $