Blue Hardware Limited reported the following amounts for its cost of goods sold and Inventory: 2018 2017 Cost of goods sold $169,100 $152,900 Ending inventory 37,100 30,400 Blue made two errors: (1) ending inventory for 2018 was overstated by $2,200 and (2) ending inventory for 2017 was understated by $3,800. Assume that neither error has been found or corrected Part 1 Calculate the correct ending inventory and cost of goods sold amounts for each year 2018 2017 Ending inventory $ Cost of goods sold$ Part 2 Describe the impact of the error on (1) cost of goods sold, (2) income before income tax, (3) assets, (4) liabilities, and (5) total shareholders' equity for each of the two years. 2017 2018 Cost of goods sold (1) (2) Income before income tax (3) Assets (4) Liabilities Total shareholders' equity