Shockley Co. reported the following amounts in its financial statements (b) Profit 2020 Financial Statements for Year Ended December 31. 2021 665,000 $ 797,000 $ 170,000 1,055,000 225,000 1,165,000 1,187,000 1,330,000 2022 720,000 181,000 1,000,000 1,132,000 (a) Cost of goods sold (c) Total current assets (d) Equity In making the physical counts of inventory, the following errors were made: Inventory on December 31, 2020: understated $60,000 Inventory on December 31, 2021: overstated $42,000 Required: For each of the preceding financial statement items-(a), (b), (c), and (d)-prepare a schedule similar to the following and show the adjustments that would have been necessary to correct the reported amounts. (Negative answers should be indicated by a minus sign.)