During $2019,$ a company purchased a mine at a cost of $$3,959,000.$ The company spent an additional $$670,000$ getting the mine ready for its intended use. It is estimated that $370,000$ tons of mineral can be removed from the mine and the residual value of the mine will be $$670,000.$ During $2019,52,000$ tons of mineral were removed from the mine and $42,000$ tons were sold.

Which of the following statements is correct with respect to the accounting for the mine? $($Do not round your intermediate calculations.$)$

Multiple Choice

The book value of the mine decreased $$449,400$ during $2019.$

The inventory of minerals was $$556,400$ at December $31,2019.$

The $2019$ cost of goods sold was $$449,400.$

The $2019$ net income decreased $$556,400$ as a result of the mining during the year.