Bravo Company manufactures quality gentlemen's clothing. The following selected financial information for the fiscal year 2016 is provided: Item Amount Sales $100,000 Cost of Goods Manufactured 75,000 Direct Material Purchased 40,000 Factory Overhead Work in Process- January 1 Work in Process December 31 10,000 30,000 15,000 Direct Material December 31 10,000 Finished Goods Inventory December 31 60,000 Net Income 15,000 Direct Materials used 30,000 Cost of Goods Sold 55,000 Use this information to determine the dollar amount of Bravo's the following: (Round dollar values & enter as whole dollars only.) 1. Finished Goods Inventory -January 1, 2016 2. Gross Profit FY 2016 3. Operating Expenses FY 2016 4. Direct Labor Costs FY 2016 5. Direct Materials Inventory January 1, 2016