Rise & Shine Company sells alarm clocks. The following information summarizes Rise & Shine's operating activities for 2018: Selling and Administrative Expenses Purchases Net Sales Revenue Merchandise Inventory, January 1, 2018 Merchandise Inventory, December 31, 2018 $ 147,000 208,000 421,000 16,000 11,000 Requirements 1. Calculate the operating income for 2018. 2. Rise & Shine sold 50,000 alarm clocks in 2018. Compute the unit cost for one alarm clock Download file O Operating Income $61,000 & Cost of Goods Sold $4.26 per alarm clock Operating Income $208,000 & Cost of Goods Sold $4.16 per alarm clock O Operating Income $421,000 & Cost of Goods Sold $8.42 per alarm clock O Operating Income $221,000 & Cost of Goods Sold $6.42 per alarm clock