Saved Required information The following data (in thousands of dollars) have been taken from the accounting records of Karling Con year just ended. Sales Raw materials inventory, beginning Raw materials inventory, ending Purchases of raw materials Direct labour Manufacturing overhead Administrative expenses Selling expenses Work-in-process inventory, beginning Work-in-process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending $990 $40 $70 $120 $200 $ 230 $150 $140 $70 $50 $120 $160 What was the net income (in thousands of dollars) for the year? Multiple Choice What was the net income in thousands of dollars) for the year? Multiple Choice $490. $250. $150. $200. What was the cost of goods sold in thousands of dollars) for the year? Multiple Choice O $660. $500. $580. $700