Outdoor Amenities is a manufacturer of backyard and deck furniture. Its products are in high demand, and it carries no inventory. Following is a list of selected account balances from its trial balance for the most recent year ended December 31 (in no particular order.)

Salaries and wages (for administrative and sales staff) ………………………………….. $ 37,400

Stain (used in manufacturing furniture) …………………………………………………………. $ 12,700

Indirect labor costs (wages of maintenance workers in factory) ……………………….. $ 21,300

Other manufacturing overhead (includes factory insurance and property taxes) ….. $ 9,800

Rent and utilities (for administrative offices) ………………………………………………….. $ 12,000

Utility costs (related to factory) ……………………………………………………………………. $ 11,200

Labor costs (wages of carpenters who build furniture) ……………………………………. $ 36,900

Accounts receivable …………………………………………………………………………………… $ 27,100

Marketing costs …………………………………………………………………………………………. $ 17,300

Wood (used in manufacturing furniture) ……………………………………………………….. $ 57,800

Sales revenues ……………………………………………………………………………………….. $ 255,000

Accounts payable ………………………………………………………………………………………… $ 7,100

Requirements

Using the income statement accounts in the table, calculate:

1. Cost of goods sold.

2. Operating expenses.

3. Gross profit



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