Tobias has a brokerage account and buys on the margin, which resulted in an interest expense of $32,800 during the year. Income generated through the brokerage account was as follows: Municipal interest $65,600
Taxable dividends and interest 328,000
If required, round any division to two decimal places and use in subsequent computations. Round your final answer to the nearest dollar.
How much investment interest can Tobias deduct

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.