Following is the trial balance of Stopa Manufacturing Corporation as of December 31 of this year.

You are given the following information for the adjustments:
a.€“ f. Year- end inventories: raw materials, $ 28,750; work-in-process, $ 45,830; finished goods, $ 48,118.
g. Estimated depreciation of factory machinery, $ 7,980.
h. A study of the company€™s insurance policies shows that $ 1,085 of factory insurance expired during the year.
i. Allowance for Doubtful Accounts to be increased by $ 543 (debit General Expenses).
j. Accrued direct labor, $ 252; accrued indirect labor, $ 84; accrued sales commissions, $ 98 ( credit Wages and Commissions Payable).
k. Additional income tax, $ 800.

Required
1. Prepare a work sheet.
2. Prepare a statement of cost of goods manufactured.
3. Prepare an incomestatement.

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Stopa Manufacturing Corporation Trial Balanco December 31, 20- Account Name Cash Accounts Recelvable Allowance for Doubtful Accounts Raw Materials Inventory Work-in-Process Inventory Finished Goods Inventory Prepaid Factory Insurance Machinery Accumulated Depreciation, Machinery Accounts Payable Common Stock Paid-in Capital in Excess of Stated Value Retained Earnings Net Sales Raw Materials Purchases (net Direct Labor Indirect Labor Heat Light, and Power Machinery Repairs Selling Expenses General Expenses Income Tax Expense Debit 3.045 24 290 Credit 945 32.060 49,735 48.440 1470 111,950 30,240 19.215 70,000 17500 45,784 451.990 48.965 97448 36,511 11.340 6,860 99,197 41.563 2,800 635.674 635,674