Navajo Company's year-end financial statements show the following. The company recently discovered that in making physical counts of inventory, it had made the following errors: Year 1 ending inventory is understated by $54,000 and Year 2 ending inventory is overstated by $24,000. For Year Ended December 31 Year 1 Year 2 Year 3 (a) Cost of goods sold $ 729,000 $ 959,000 $ 794, eee (b) Net income 272,800 279,000 254,00€ (c) Total current assets 1,251,000 1,364,000 1,234,000 (d) Total equity 1,391,000 1,584,800 1,249,000 Required:
