A manufacturing company, Bright Solutions Inc., recorded the following transactions for the month of January:

• Purchased raw materials worth $50,000 on account.
• Incurred direct labor costs of $30,000.
• Factory overhead costs amounted to $20,000.
• Produced 5,000 units of finished goods.
• Sold 4,000 units of finished goods at $25 each on account.
• Collected 80% of the accounts receivable.

Calculate the following for Bright Solutions Inc.: a) Cost of goods sold b) Gross profit c) Net income d) Accounts receivable balance after collection