Tamarisk Enterprises reported cost of goods sold for 2020 of $1,512,800 and retained earnings of $5,078,800 at December 31, 2020. Tamarisk later discovered that its ending inventories at December 31, 2019 and 2020, were overstated by $113,870 and $35,230, respectively. Determine the corrected amounts for 2020 cost of goods sold and December 31, 2020, retained earnings.

With signals from no-claim bonuses and deductibles, a. the marginal cost curve for careful drivers lies to the left of the marginal cost curve for aggressive drivers b. auto insurance companies insure more aggressive drivers than careful drivers because aggressive drivers have a greater need for the insurance c. the market for car insurance has a separating equilibrium, and the market is efficient d. most drivers pay higher premiums than if the market had no signals