The net income for the year (in thousands of dollars) was:

A) $190.
B) $390.
C) $130.
D) $70.

To calculate the net income, we first need to calculate the cost of goods sold (COGS) and then subtract it along with administrative and selling expenses from sales.1. Calculate the cost of raw materials used: $$\text{Raw materials used}=\text{Beginning raw materials inventory}+\text{Purchases}-\text{Ending raw materials inventory}$$$$=\$60+\$180-\$70=\$170$$ 2. Calculate the total manufacturing costs: $$\text{Total manufacturing costs}=\text{Raw materials used}+\text{Direct labor}+\text{Manufacturing overhead}$$$$=\$170+\$100+\$190=\$460$$ 3. Calculate the cost of goods manufactured: $$\text{Cost of goods manufactured}=\text{Total manufacturing costs}+\text{Beginning work in process inventory}-\text{Ending work in process inventory}$$$$=\$460+\$70-\$80=\$450$$ 4. Calculate the cost of goods sold: $$\text{COGS}=\text{Cost of goods manufactured}+\text{Beginning finished goods inventory}-\text{Ending finished goods inventory}$$$$=\$450+\$120-\$160=\$410$$ 5. Calculate the net income: $$\text{Net income}=\text{Sales}-\text{COGS}-\text{Administrative expenses}-\text{Selling expenses}$$$$=\$800-\$410-\$110-\$150=\$130$$ Therefore, the correct answer is C) $130.