Assets DECREASED by $200,000 during the year.

Liabilities INCREASED by $60,000 during the year.

Dividends for the year were $100,000.

Expenses for the year were $400,000.

Harman Company has the following purchase and sales data.

Note: There was no inventory before the purchase made on February 1.

Purchased on February 1 -- 100 units, $7 cost per unit

Purchased on February 16 -- 200 units, $6 cost per unit

Purchased on February 25 -- 250 units, $5 cost per unit

Sold on February 28 -- 350 units, $9 selling price per unit

The company uses **LIFO**.

Compute GROSS MARGIN for February.

Group of answer choices

$2,150

$1,300

$1,850

$2,005

$1,000

Capital Contributions during the year were $50,000.

Compute REVENUES for the year.

Group of answer choices

$810,000

$1,070,000

$190,000

$550,000

$510,000

$1,210,000

$910,000