Hang Supply uses a perpetual inventory system. On January 1, its inventory account had a beginning balance of $6,400,000. Hang engaged in the following transactions during the year: 1. Purchased goods inventory for $9,500,000 2. Generated net sales of $25,000,000. 3. Recorded inventory shrinkage of $10,000 after taking a physical inventory at year-end. 4. Reported gross profit for the year of $17,000,000 in its income statement. a. At what amount was Cost of Goods Sold reported in the company's year-end income statement? (Omit the "$" sign in your response.) Cost of goods sold $ b. At what amount was goods Inventory reported in the company's year-end statement of financial position? (Omit the "$" sign in your response.) Ending inventory c. Immediately prior to recording inventory shrinkage at the end of the year, what was the balance of the Cost of Goods Sold and inventory account? (Omit the "$" sign in your response.) Balance $ Cost of goods sold Ending inventory $