Jeff Company is starting to look at their inventory balances and noticed that there are some errors. In performing the physical inventory count, their company noticed the following errors that were made: Inventory on December 31, 2019 was understated by $66,000 Inventory on December 31, 2020 was overstated by $30,000 The company has provided you with the following amounts that are reported on their financial statements Financial Statements for the Year Ended December 31, 2019 2020 2021 Cost of Goods Sold 715.000 847,000 770,000 Net Income 220,000 275,000 231,000 Please prepare the following two schedules to show the adjustments that are necessary to correct the amounts that are reported in the financial statements 2020 2021 Cost of Goods Sold 2019 Reported Amount 2019 Adjustments 2020 Adjustments Corrected Balance Net Income 2019 2020 2021 Reported Amount 2019 Adjustments 2020 Adjustments Corrected Balance