File Size Questions

I'm a bit confused about SQL Server 2008 Express database and file sizes.  If I open the DATA folder in MSSQL, I see my two files along with their sizes:
     Test.mdf      74,432 KB      Test.ldf  12,705,728 KB
Next, I go into SSMS, click on Shrink Database and see the following for my "Test" database:
     Currently allocated space: 12480.63 MB      Available free space:          0.99 MB (0%)
Next, I click on Shrink File and see the following for my "Test" Data file:
     Currently allocated space: 72.69 MB      Available free space:       0.88 MB (1%)
Finally, I click on Shrink File and see the following for my "Test" Log file:      < ...