Selected account balances for the year ended December 31 are provided below for BFun Company: Sales revenue Selling and administrative salaries. Purchases of raw materials Direct labor Advertising expense... Manufacturing overhead Sales Commissions.. $1,000,000 $110,000 $290,000 ? $80,000 $270,000 $50,000 Inventory balances at the beginning and end of the year were as follows: Raw materials Work in process Finished goods Beginning of the Year $40,000 ? $50,000 End of the Year $10,000 $35,000 ? The total manufacturing costs for the year were $683,000; the goods available for sale totaled $740,000; and the cost of goods sold totaled $660,000. a. Required: 1. Calculate the following: Direct material used in production b. Direct labor added to production C. Ending finished goods inventory d. Cost of goods manufactured e. Beginning work in process inventory 2. Use the information above to complete a traditional income statement. Show gross margin/profit and net operating income