Doubletree Company's financial statements show the following. The company recently discovered that in making physical counts of inventory, it had made the following errors: Inventory on December 31, 2010, is understated by $68,000, and inventory on December 31, 2011, is overstated by $38,000 For Year Ended December 31 (a) Cost of goods sold (b) Net profit c) Total current assets (d) Total equity 2011 $ 743,000 $ 973,000 $ 808,000 286,000 293,000 268,000 1,265,000 1,378,000 1,248,000 1,405,000 1,598,000 1,263,000 2010 2012 Required 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. (Amounts to be deducted should be indicated with a minus sign. Leave no cells blank - be certain to enter "O" wherever required Omit the "S" sign in your response.) a) Cost of goods sold: Reported amount Adjustments for: 12/31/2010 error 2010 2011 2012 12/31/2011 error Corrected amount 2010 2011 2012 Net profit Reported amount Adjustments for: 12/31/2010 error 12/31/2011 error Corrected amount 2010 2011 Total current assets Reported amount Adjustments for:12/31/2010 error 12/31/2011 error Corrected amount