Question 34 (1 point) Boardman Company reported the following data for the month of January: Inventories: January 1 January 31 Raw materials....... $32,000 $31,000 Work in process..... $18,000 $12,000 Finished goods...... $30,000 $35,000 Additional information: Sales revenue $210,000 Direct labour costs $40,000 Manufacturing overhead costs $70,000 Selling expenses $25,000 Administrative expenses $35,000 Assuming that cost of goods sold for January was $124,000, what was the net income for January? $ 51,000 $ 25,000 $ 26,000 $ 61,000