Cost and sales information for the most recent fiscal year are shown below:

WALLACE RIVER COMPANY
Cost and Sales Information
For the Year Ended December 31
Purchases of raw materials	$	90,500
Raw materials inventory, beginning		10,500
Raw materials inventory, ending		17,500
Depreciation, factory		42,300
Insurance, factory		5,000
Direct labor		60,500
Maintenance, factory		30,000
Administrative expense		70,200
Sales		455,000
Utilities, factory		27,000
Supplies, factory		1,000
Selling expense		80,200
Advertising expense		20,200
Indirect labor, factory		65,000
Work in process inventory, beginning		7,000
Work in process inventory, ending		30,000
Finished goods inventory, beginning		10,000
Finished goods inventory, ending		40,000

Assume that the cost of goods manufactured is $291,300.

1. What is the total cost of goods sold?	Answer 1Choose...$291,300$170,600$261,300$321,300$150,400$23,100$193,700
2. What is the total selling and administrative expenses?	Answer 2Choose...$291,300$170,600$261,300$321,300$150,400$23,100$193,700
3. What is the operating income of the company?