determine the amount of cost of goods sold reported on the $2016$ accrual based income statement:

 

The Income Statement of Dolan Corporation for 2016 included Interest Revenue for $131,000. The Cash ledger for the company for 2016 showed $160,600 cash paid for salaries, $14,400 cash paid for insurance, and $365,700 cash paid for inventory. The following balances have been excerpted from Dolan Corporation's balance sheet: Interest Receivable December 31, 2015 December 31, 2016 $18,200 $9,000 $17,800 $ 25,400 Salaries & Wages Payable $1,200 $ 3,000 Prepaid Insurance $33,000 $59,000 Inventory $16,700 $35,500 Accounts Payable