Consider a firm Theta that spends $60 to produce goods in year 1. In year 2 it sells these goods for $100, but its customers pay their bills with a delay, therefore the payment is not received until year 3. What's the amount of cost of goods sold for each year?

Multiple Choice

• year 1: $0; year 2: $60; year 3: $0

• year 1: $0; year 2: $0; year 3: $60

• year 1: $0; year 2: $100; year 3: $0

• year 1: $60; year 2: $0; year 3: $0