Pronghorn Suppliers reported cost of goods sold for 2017 of $840,000 and retained earnings of $1,405,000 at December 31, 2017. Pronghorn later discovered that its ending inventories at December 31, 2016 and 2017, were overstated by $38,000 and $73,800, respectively. Determine the corrected amounts for 2017 cost of goods sold and December 31, 2017, retained earnings. COGS Retained Earnings Corrected amounts $