Jerry and sally were divorced under an agreement executed july 1, 2018. the terms of the agreement provide that jerry will transfer to sally his interest in a rental house worth $250,000 with a tax basis to jerry of $80,000. what is the amount of the gain that must be recognized by jerry on the transfer of the property and what is sally's tax basis in the property after the transfer, respectively?

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.