6 2:20 Help Save & The accounting department at Mansbridge Inc. prepared the following income statement for the quarter ending December 31, 2019 Sales Purchases of materials (F) Payroll (2) Advectising Administrative travel Manufacturing utilities Facility rental (3) Depreciation (4) Sales commissions Annual Manufacturing Insurance (5) Office utilities Management salaries (6) Net income $1,461,100 25.0 269,900 29,300 52,6 91,000 66990 58,000 57.000 24,100 405,000 $113,410 Notes: (1) 70% of the materials were direct (2) 80% direct labour, 20% indirect labour (3) 90% related to manufacturing (4) 75% related to manufacturing (5) This is a statement for the quarter (6) 30% related to manufacturing The department also compiled the following information with respect to inventories for the quarter (note that the company maintain inventories of indirect materials). Direct materials. Work in process Finished goods Beginning $ 7,720 8,920 12,130 Endinn $ 9,220 10,480 7,930