11 4 pts Sierra Co. provided the following information for the year ended December 31, 20Y1 Costs Amount Finished goods inventory - $150,000 beginning balance Finished goods inventory - $120,000 ending balance Costs of Goods manufactured $380,000 Selling expenses $85,000 General and administrative $245,000 expenses Sales revenue $1,120,000 Costs of goods sold for the year ended December 31, 20Y1: $ Net income for the year ended December 31, 20Y1: $