Rooney Manufacturing Company was started on January $1,$ Year $1,$ when it acquired $$77,000$ cash by issuing common stock. Rooney

immediately purchased office furniture and manufacturing equipment costing $$9,800$ and $$33,000,$ respectively. The office furniture

had an eight$-$year useful life and a zero salvage value. The manufacturing equipment had a $$3,400$ salvage value and an expected

useful life of four years. The company paid $$11,100$ for salaries of administrative personnel and $$15,100$ for wages to production

personnel. Finally, the company paid $$18,170$ for raw materials that were used to make inventory. All inventory was started and

completed during the year. Rooney completed production on $4,900$ units of product and sold $3,910$ units at a price of $$16$ each in Year

$($Assume that all transactions are cash transactions and that product costs are computed in accordance with GAAP.$)$

Required

a$.$ Determine the total product cost and the average cost per unit of the inventory produced in Year $1.$

Note: Round "Average cost per unit" to $2$ decimal places.

b$.$ Determine the amount of cost of goods sold that would appear on the Year $1$ income statement.

Note: Do not round intermediate calculations.

c$.$ Determine the amount of the ending inventory balance that would appear on the December $31,$ Year $1,$ balance sheet.

Note: Do not round intermediate calculations.

d$.$ Determine the amount of net income that would appear on the Year $1$ income statement.

Note: Do not round intermediate calculations.

e$.$ Determine the amount of retained earnings that would appear on the December $31,$ Year $1,$ balance sheet.

Note: Do not round intermediate calculations.

f$.$ Determine the amount of total assets that would appear on the December $31,$ Year $1,$ balance sheet.

Note: Do not round intermediate calculations.