Crane Enterprises reported cost of goods sold for 2020 of $1,290,700 and retained earnings of $4,708,100 at December 31, 2020. Crane later discovered that its ending inventories at December 31, 2019 and 2020, were overstated by $116,750 and $32,910, respectively. Determine the corrected amounts for 2020 cost of goods sold and December 31, 2020, retained earnings.

Corrected cost of goods sold		$
Corrected 12/31/20 retained earnings		$