Previously a local charity received a $1 million gift, the income from which was restricted to support activities for senior citizens. during the current year the endowment earned $40,000 of interest revenues, of which the charity designated $30,000 to support senior citizen activities. on its year-end statement of financial position, the charity would report permanently restricted net assets of: a. $1 million. b. $1.04 million. c. $1.03 million. d. $1.01 million.

Kinc. has provided the following data for the month of may: inventories: beginning ending work in process $ 17,000 $ 12,000 finished goods $ 46,000 $ 50,000 additional information: direct materials $ 57,000 direct labor cost $ 87,000 manufacturing overhead cost incurred $ 63,000 manufacturing overhead cost applied to work in process $ 61,000 any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. the adjusted cost of goods sold that appears on the income statement for may is: