14. Theriot, Inc. sells goods for $220,000 realizing a net income of $45,000 during the year ending December 31, 2019. Theriot manufactured the goods that it sold in 2019 incurring the following costs: Direct Materials cost, $92,000; Direct Labor cost, $45,000; and Factory Overhead cost $32,000. a) Calculate Theriot's gross profit for the year ended December 31, 2019. b) Calculate Theriot's total period costs for the year ended December 31, 2019.