E1) Cost of Goods Sold for Abletrex Inc. for the year ended May 31, 2019 was $1,300,000. However, there was an understatement of ending inventory as of May 31,2019 of $90,000 and an understatement of ending inventory for the year as of May 31,2018 for $60,000. Retained Earnings for the year ended May 31,2019 was $4,000,000. (7 Marks) a) Required: Calculate the corrected Cost of Goods Sold for the year ended May 31, 2019. (4 Marks) b) Required: Calculated the corrected Retained Earnings for the year ended May 31, 2019