The following information pertains to Yuji Corporation:

Costs incurred during the year 2017 were as follows:
Raw material purchased....................................................................$116,000
Wages to factory workers.....................................................................55,000
Salary to factory supervisors..................................................................25,000
Salary to selling and administrative staff...................................................40,000
Depreciation on factory building and equipment..........................................10,000
Depreciation on office building....................................................................12,000
Utilities for factory building...........................................................................5,000
Utilities for office building.............................................................................7,500
Required:
Sales revenue during 2017 was $300,000. The income tax rate is 40%. Compute the following:
1. Cost of raw materials used.
2. Cost of goods manufactured/completed.
3. Cost of goods sold.
4. Gross margin.
5. Net income.

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Raw materials inventory Work-in-process inventory Finished goods inventory January 1, 2017 $34,000 126,000 76,000 December 31, 2017 $38,000 145,000 68,000