Jordan Manufacturing Company was started on January $1,$ year $1,$ when it acquired $$90,000$ cash by issuing common stock. Jordan immediately purchased office furniture and manufacturing equipment costing $$9,100$ and $$25,500,$ respectively. The office furniture had an eight$-$year useful life and a zero salvage value. The manufacturing equipment had a $$3,900$ salvage value and an expected useful life of three years. The company paid $$12,000$ for salaries of administrative personnel and $$15,900$ for wages to production personnel. Finally, the company paid $$9,290$ for raw materials that were used to make inventory. All inventory was started and completed during the year. Jordan completed production on $4,100$ units of product and sold $3,150$ units at a price of $$15$ each in year $1.($Assume that all transactions are cash transactions and that product costs are computed in accordance with GAAP.$)$