Logan Corp.'s trial balance of income statement accounts for the year ended December 31, 2020 included the following:

Sales revenue $280,000

Cost of goods sold $170,000

Administrative expenses 40,000

Loss on disposal of equipment 18,000

Sales commission expense 16,000

Interest revenue 10,000

Freight-out 6,000

Loss from discontinued operations 24,000

Bad debt expense 6,000

Totals $280,000 $290,000

Other information:

Logan's income tax rate is 20%. Finished goods inventory:

• January 1, 2020$160,000
• December 31, 2020140,000

On Logan's multiple-step income statement for 2020, cost of goods manufactured is

Select one:

a.$196,000.

b.$190,000.

c.$156,000.

d.$150,000.