The bullet entered the left lateral side, went along the frontal plane, and then hit the inside part of his 8th rib, fracturing it. The bullet then fragmented and part of it ricocheted off the rib and came out 5 cm above the belly button. This is the most probable case because it is the least complicated path, and the shortest distance, for the bullet to go. It would have most likely gone through his heart, causing internal bleeding and death, since the heart is what controls the movement of your blood, so has a lot of blood coming through it. Below is a model of what I believe this path would look like.
Differential Diagnosis Model
Plausible Alternatives:
The bullet could have hit the second rib as it entered, and split into two pieces. One piece could of the bullet could have exited out 5cm above the belly button, while the other piece may have hit the eighth rib. This can be ruled out if the second rib was not damaged upon examination. This would mean that the bullet never hit this second rib.
The bullet could have hit the front of the vertebral body, fragmenting the bullet. With these fragments, the two injures would have been made. This could be ruled out by checking all of the vertebral bodies to see if they are normal or injured.
The bullet went down through his lateral left at a 45-degree angle and hit his right pelvic bone, and then bounced back up and exited 5cm above the belly button. After being shot, the victim fell down and fractured his rib, rolling onto his back before dying. If the pelvic bone is uninjured, then this can be ruled out.