ABC Company is a manufacturing firm that produces widgets. The company has provided you with the following information for the fiscal year ended December 31, 2023:

Beginning inventory of raw materials: $20,000
Purchases of raw materials during the year: $100,000
Ending inventory of raw materials: $25,000
Direct labor costs incurred: $80,000
Manufacturing overhead costs incurred: $50,000
Beginning work in process inventory: $15,000
Ending work in process inventory: $20,000
Beginning finished goods inventory: $30,000
Ending finished goods inventory: $35,000
Sales revenue for the year: $400,000
Selling and administrative expenses: $60,000
Using the provided information, perform the following tasks:

a. Calculate the cost of goods manufactured.
b. Calculate the cost of goods sold.
c. Determine the gross profit for the year.
d. Calculate the operating income for the year.
e. Prepare an income statement for ABC Company for the fiscal year ended December 31, 2023, following the multi-step format.
f. Calculate the inventory turnover ratio and days sales in inventory (DSI) for the year.

Please solve each part of the question and provide detailed explanations where necessary.