My LOST 20 Points) Computer Company manufactures laptops devices for students. The firm had the following inventories at the beginning and end of the month of February: Finished goods Work in process Raw material February 1 $253,500 195,300 126,900 February 31 $186,700 521,600 121,300 The following additional data pertain to February operations Raw material purchased Direct labor Actual manufacturing overhead Actual selling and administrative expenses Tax rate 178,300 420,200 375,100 115,400 35% The company applies manufacturing overhead at the rate of 75 percent of direct-labor cost. Any overapplied or underapplied manufacturing overhead is accumulated until the end of the year. During the month of February, the company sold 200 laptops at a selling price of $3,500 per laptop. d) The cost of goods sold for February (Points 2.5). e) Calculate net income for February (Points 5.0)