The following is a summary of information presented on the financial statements of a company on december 31, 2019. account 2019 2018 net sales revenue $600,000 $504,000 cost of goods sold 456,000 405,000 gross profit $144,000 $99,000 selling expenses 51,000 54,000 net income before income tax expense $93,000 $45,000 income tax expense 39,000 23,000 net income $54,000 $22,000 with respect to net income, a horizontal analysis reveals
a. a 145.45% decrease in net income
b. a $22,000 increase in net income
c. that net income is 14.55% of net sales revenue
d. a 145.45% increase in net income

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.