QUESTION 2 Use the following intormation to calculate Honest Tea, Inc.'s Cost of Goods Sold for the year. Note: All purchases of inventory are on account. \begin{tabular}{|l|l|} \hline December 31 Inventory & $20,000 \\ \hline January 1 Itiventory & 10,000 \\ \hline Sales during the year & 53,000 \\ \hline Decomber 31 Acoounts Payablo & 21,000 \\ \hline Purchases of Imventory on Account during the year & 47,000 \\ \hline \end{tabular}