Check my work Navajo Company's year-end financial statements show the following. The company recently discovered that in making physical counts of Inventory, it had made the following errors: Year 1 ending inventory is understated by $55,000 and Year 2 ending inventory is overstated by $25,000. For Year Ended December 31 (a) Cost of goods sold (b) Net income (c) Total current assets (d) Total equity Required: Year 1 $ 730,000 273,000 1,252,000 1,392,000 Year 3 $ 795,000 255,000 1,235,000 Year 2 $ 960,000 280,000 1,365,000 1,585,000 1,250,000 ces 1. For each key financial statement figure-(a), (b), (c), and (d) above-prepare a table to show the adjustments necessary to correct the reported amounts. 2. What is the total error in combined net income for the three-year period resulting from the inventory errors? Complete this question by entering your answers in the tabs below. Required-1 Required-2