Gibson Manufacturing Company was started on January $1,$ Year $1,$ when it acquired $$85,000$ cash by issuing common stock. Gibson immediately purchased office furniture and manufacturing equipment costing $$7,700$ and $$26,200,$ respectively. The office furniture had an eight$-$year useful life and a zero salvage value. The manufacturing equipment had a $$4,000$ salvage value and an expected useful life of three years. The company paid $$11,900$ for salaries of administrative personnel and $$15,100$ for wages to production personnel. Finally, the company paid $$13,050$ for raw materials that were used to make inventory. All inventory was started and completed during the year. Gibson completed production on $4,500$ units of product and sold $3,560$ units at a price of $$15$ each in Year $1.($Assume that all transactions are cash transactions and that product costs are computed in accordance with GAAP.$)$ Determine the total product cost and the average cost per unit of the inventory produced in Year $1.$

Note: Round "Average cost per unit" to $2$ decimal places.

Determine the amount of cost of goods sold that would appear on the Year $1$ income statement.

Note: Do not round intermediate calculations.

Determine the amount of the ending inventory balance that would appear on the December $31,$ Year $1,$ balance sheet.

Note: Do not round intermediate calculations.

Determine the amount of net income that would appear on the Year $1$ income statement.

Note: Do not round intermediate calculations.

Determine the amount of retained earnings that would appear on the December $31,$ Year $1,$ balance sheet.

Note: Do not round intermediate calculations.

Determine the amount of total assets that would appear on the December $31,$ Year $1,$ balance sheet.

Note: Do not round intermediate calculations a$.$ Total product cost

a$.$ Average cost per unit

b$.$ Cost of good sold

c$.$ Ending inventory

d$.$ Net income

e$.$ Retained earnings

f$.$ Total assets