the questions are indicated on the picture

(AICPA) The next two items are based on the following: Vane Co.'s trial balance of income statement accounts for the year ended December 31, 20x1, included the following: Debit Credit 575,000 Sales 240,000 Cost of sales 70,000 Administrative expenses 10,000 Loss on sale of equipment 50,000 Sales commissions 25,000 Interest revenue 15,000 Freight out Loss on early retirement of long-term debt 20,000 Uncollectible accounts expense 15,000 Totals 420,000 600,000 Other information: Finished goods inventory: January 1, 20x1 ......... P400,000 December 31, 20x1 .... 360,000 Vane's income tax rate is 30%. In Vane's 20x1 multiple step income statement, 6. What amount should Vane report as the cost of goods manufactured? a. 200,000 b. 215,000 c. 280,000 d. 295,000 (AICPA) 7. What amount should Vane report as income after income taxes from continuing operations? a. 126,000 b. 129,500 c. 140,000 d. 147,000 (AICPA)