2 Consider the following information for Fair Wind Yachts Inc., a manufacturer of sailboat rigging, blocks, and cordage. 10 points eBook Advertising expenses Depreciation expense-administrative office Depreciation expense-plant and equipment Depreciation expense-delivery trucks Materials inventory, beginning Materials inventory, ending Direct materials purchases Direct labor Indirect labor Finished goods inventory, beginning Finished goods inventory, ending Insurance on plant Heat and light for plant Repairs on plant building Supervisor's salary-plant Supplies-plant Supplies-administrative office Work-in-process inventory, beginning Work-in-process inventory, ending Sales representatives salaries Sales revenue $ 159,500 78,888 329,5ee 51,650 25,500 32,250 457,500 550, eee 288, eee 56,900 46,800 37,700 25,800 48,750 100, 850 133,900 80,850 35,750 42,800 329,750 3,082,000 References Required: Prepare a statement of cost goods manufactured and an income statement for Fair Wind Yachts for the year ended December 31. Complete this question by entering your answers in the tabs below. Stmt of COGM Income Statement Prepare an income statement for Fair Wind Yachts for the year ended December 31. Fair Wind Yachts Income Statement For the Year Ended December 31 nonnl Required: Prepare a statement of cost of goods manufactured and an income statement for Fair Wind Yachts for the year ended December 31. Complete this question by entering your answers in the tabs below. Stmt of COGM Income Statement Prepare an income statement for Fair Wind Yachts for the year ended December 31. $ 3,082,000 Fair Wind Yachts Income Statement For the Year Ended December 31 Sales revenue Cost of goods sold Cost of goods manufactured Beginning finished goods inventory Total goods available for sale Less: Ending finished goods inventory Cost of goods sold Gross margin Advertising expenses Supplies-administrative office Sales representatives' salaries Depreciation expense-administrative office Depreciation expense - delivery trucks Total selling & administrative expenses Operating income