Use the following information for the next two (2) questions: Vane Cos trial balance of income statement accounts for the year ending December 31, 2021, included the following:

Sales 575 000 Costs of sales 240 000 Administrative expenses 70 000 Loss on sale of equipment 10 000 Sales commissions. 50 000 Interest revenue. 25 000 Freight out 15 000 Loss on early retirement of long-term debt. 20 000 Uncollectible accounts expense 15 000

Other information: Inventory, January 1, 2021 400,000,

Inventory, December 31, 2021 360,000

Vanes income tax rate is 30%. In Vanes 2021 multiple step income statement.

3. ) What amount should Vane report as the cost of goods manufactured?

4. ) What amount should Vane report as income after income taxes from continuing operations?