Bienvenu Enterprises reported cost of goods sold for 2017 of $1,400,000 and retained earnings of $5,200,000 at December 31, 2017. Bienvenu later discovered that its ending inventories at December 31, 2016 and 2017, were overstated by $110,000 and $35,000, respectively. Determine the corrected amounts for 2017 cost of goods sold and December 31, 2017, retained earnings

Corrected cost of goods sold$1,325,000

Corrected 12/31/17 retained earnings $5,165,000

Explanation:

Cost of goods sold as reported $1,400,000

Overstatement of 12/31/16 inventory(110,000)

Overstatement of 12/31/17 inventory35,000 Corrected cost of goods sold$1,325,000

Retained earnings as reported$5,200,000

Overstatement of 12/31/17 inventory(35,000)

Corrected 12/31/17 retained earnings $5,165,000

the correct answer would be b, when, queen, calder hall and london.

explanation:

we always capitalize words when a paragraph or sentence is starting, when an important name is used, when a place is being written, or simply when a noun is used, etc. so in this sentence, sentence is starting from 'when', so it will be written in capital letters. secondly, queen is considered to be an important person, so it will also be written in capital letter. next, the name of the town is mentioned, i-e calder hall, which will also be written in capital letters. in the last,   city name is being used, 'london', which will also be written in capital letters. so option b is the most appropriate one.