Skysong Enterprises reported cost of goods sold for 2025 of $1,344,000 and retained earnings of $4,754,600 at December 31, 2025. Skysong later discovered that its ending inventories at December 31, 2024 and 2025, were overstated by $99,490 and $37,840, respectively. Determine the corrected amounts for 2025 cost of goods sold and December 31, 2025, retained earnings. Corrected cost of goods sold Corrected 12/31/25 retained earnings eTextbook and Media Save for Later $ $ Attempts: 0 of 3 used Submit Answe

Skysong Enterprises reported cost of goods sold for 2025 of $1,344,000 and retained earnings of $4,754,600 at December 31,2025 . Skysong later discovered that its ending inventories at December 31, 2024 and 2025, were overstated by $99,490 and $37,840, respectively. Determine the corrected amounts for 2025 cost of goods sold and December 31, 2025, retained earnings. Corrected cost of goods sold Corrected 12/31/25 retained earnings $ $