Martinez Enterprises Ltd. reported cost of goods sold for 2023 of $2.3 million and retained earnings of $4.0 million at December 31, 2023. Martinez later discovered that its ending inventories at December 31, 2022 and 2023, were overstated by $160,000 and $43,000, respectively. Determine the correct amounts for 2023 cost of goods sold and December 31, 2023 retained earnings. Corrected cost of goods sold $ Corrected 12/31/23 retained earnings $