1. The following information pertains to Gregory Industries for August 2024: Beginning direct materials Beginning finished goods Beginning work in process Cost of goods sold Direct materials purchases Ending direct materials Ending finished goods Ending work in process Factory overhead Gross profit Selling and administrative expenses Assume an income tax rate of 25 percent. Required: Determine the following values: a. Net operating income (pretax income) b. Cost of goods manufactured C. Total manufacturing costs added d. Sales e. Direct materials used f. Direct labor g. Conversion costs h. Prime costs i. After-tax net income $20,000 26,000 21,000 165,000 60,000 20,000 26,000 15,000 50,000 100,000 60,000