Jasper Company provided the following information for last year: Number of units sold Selling price per unit Direct Materials used Direct Labor cost Manufacturing Overhead Administrative Expense Selling expense 280,000 $12.00 $ 180,000 $ 505,000 $ 110,000 $ 437,000 $ 854,000 Last year, the beginning and ending inventories of raw materials, work-in-process and finished goods were zero. Sales revenue Cost of goods sold Gross profit Less: Selling expense Administrative expense Operating income Jasper Company Income Statement For the Past Year Sales & Expenses Percent of Sales