Based on the following data, what is the net income for the company?

Sales $1,000,000 Net purchases of raw materials 600,000 Cost of goods manufactured 800,000 Marketing and administrative expenses 250,000 Indirect manufacturing costs 500,000 Beginning Inventory Ending Inventory Work-in-process $500,000 $400,000 Finished goods 100,000 400,000

a. 350,000

b. 500,000

c. 250,000

d. 150,000