Several items are omitted from each of the following income statement and cost of goods manufactured statement data for the month of December 2012:

1. Determine the amounts of the missing items, identifying them by letter.2. Prepare a statement of cost of goods manufactured for Jerry Company.3. Prepare an income statement for Jerry Company.

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Tom Company $ 187,200 Jerry Company $ 118,000 Materials inventory, December 1 Materials inventory, December 31 (a) 120,000 Materials purchased 475,200 228,000 Cost of direct materials used in production 501,600 (a) Direct labor 705,600 (b) Factory overhead 218,400 120,000 Total manufacturing costs incurred during December (b) 690,000 Total manufacturing costs 1,785,600 985,000 Work in process inventory, December 1 360,000 295,000 Work in process inventory, December 31 Cost of goods manufactured 302,400 (c) (c) 683,000 Finished goods inventory, December 1 316,800 136,000 Finished goods inventory, December 31 331,200 (d) Sales 2,760,000 1,117,000 Cost of goods sold (d) 701,000 Gross profit (e) (e) Operating expenses 360,000 (f) Net income (f) 256,000