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XYZ Corporation incurred the following costs during the second quarter: Direct materials $200,000, direct labor $190,000, manufacturing overhead $180,000, and selling and administrative expenses $170,000.

XYZ Corporation incurred the following costs during the second quarter: Direct materials $200,000, direct labor $190,000, manufacturing overhead $180,000, and selling and administrative expenses $170,000. The company produced 90,000 units during the same period and sold 85,000 units. Calculate the cost of goods sold, gross profit, and net income for the second quarter.

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