Question 16 (3 points) Listen The 2011 and 2012 Balance Sheets for Jacob, Inc. contained the following entries: 12/31/2011 12/31/2012 Accounts receivable $491 $563 $141 $580 Inventories Net fixed assets S122 $135 Accounts payable $895 $261 Jacob had materials purchases in 2011 of $1.984 and materials purchases in 2012 of $3,156. What did Jacob record as Cost of Goods Sold (COGS) on its 2012 income statement? (Record your answer without a dollar sign and without commas)