3. Prepare On Company's income statement for December. On Company Income Statement \begin{tabular}{lrr} & \multicolumn{1}{c}{ On } & \multicolumn{1}{c}{ Off } \\ & Company & Company \\ & $60,030 & $81,040 \\ Materials inventory, December 1 & (a) & 91,580 \\ Materials inventory, December 31 & 152,480 & (a) \\ Materials purchased & 160,880 & (b) \\ Cost of direct materials used in production & 226,310 & 182,340 \\ Direct labor & 70,240 & 90,760 \\ Factory overhead & (b) & 524,330 \\ Total manufacturing costs incurred in December & 572,690 & 572,690 \\ Total manufacturing costs & 115,260 & 195,310 \\ Work in process inventory, December 1 & 97,250 & (c) \\ Work in process inventory, December 31 & ( c) & 519,470 \\ Cost of goods manufactured & 101,450 & 90,760 \\ Finished goods inventory, December 1 & 106,250 & (d) \\ Finished goods inventory, December 31 & 884,840 & 810,400 \end{tabular} Cost of goods sold (d) 524,330 Gross profit (e) (e) Operating expenses 115,260 Net income (f) 179,910 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numb Letter On Company Off Company a. b. C. d. e. f. $85,900 $286,070 $106,160 2. Prepare On Company's statement of cost of qoods manufactured for December