3-55 Cost of Goods Manufactured; Income Statement The following data pertain to Babor Company for the fiscal year ended December 31: Purchases of materials Direct labor Prior December 31 Current December 31 $165,000 114,000 Indirect labor 45,000 Factory insurance Depreciation-factory 8,000 33,000 Repairs and maintenance-factory 11,000 Marketing expenses 144,000 General and administrative expenses 86,000 Materials Inventory $23,000 55,000 Work-in-Process Inventory 13,000 16,000 Finished Goods Inventory 17,000 24,000 Sales in the current year were $625,000. Required Prepare a schedule of cost of goods manufactured and an income statement for the current year for Babor Company similar to those in Exhibit 3.15A.