Question 12 Our company is a manufacturer of exercise bikes and has provided the following information: Net Sales $425,000 Finished Goods Inventory, December 31 $80,000 Cost of Goods Manufactured $260,500 Cost of Goods Sold Operating Expenses What is the net income for the year? O $36,100 $84,500 O $79,100 O $216,600 $303,500 $85,400