Shockley Co. reported the following amounts in its financial statements: Financial Statements for Year Ended December 31. 2020 2022 (a) Cost of goods sold 2021 897,000 $ $ 765,000 $ 820,000 (b) Profit 270,000 325,000 281,000 (c) Total current assets 1,255,000 1,365,000 1,200,000 (d) Equity 1,387,000 1,530,000 1,332,000 In making the physical counts of inventory, the following errors were made: Inventory on December 31, 2020: understated $80,000 Inventory on December 31, 2021: overstated $22,000 b Ch Cost of goods sold: Reported Adjustments: Dec. 31, 2020 error Dec. 31, 2021 error Corrected Profit Reported Adjustments: Dec. 31, 2020 error Dec. 31. 2021 error Corrected Total current assets. Reported Adjustments Dec 31, 2020 error $ 765,000 $ 765,000 270,000 $ 270.000 1.255.000 69 $ CO 2020 S EA 69 $ 2021 897,000 $ 897,000 $ 325.000 $ 325,000 1.365.000 $ CO 2022 820,000 820.000 281,000 281.000 1.200,000 C. Corrected Total current assets: Reported Adjustments: Dec. 31, 2020 error Dec. 31, 2021 error Corrected Reported Adjustments: Dec. 31, 2020 error Dec. 31, 2021 error Corrected d Equity: 270,000 $ 325,000 $ 1,255,000 $ 1,365,000 1,255,000 $ 1,365.000 $ $ 1,387.000 1.530.000 $ $ 1,387,000 $ 1.530.000 $ 69 $ $ Ca $ 281,000 1,200,000 1,200,000 1.332.000 1.332.000