a) Information for Jersey Metalworks as of December 31, 2020 follows. Use this information to prepare the requested reports in good form, with a heading, underlines, and dollar signs. Show all calculations.

1. The company's Schedule of Cost of Goods Manufactured for the year ended December 31, 2020.
2. The company's income statement for the year ended December 31, 2020, reporting separate categories for selling expenses and for general & administrative expenses.

Administrative salaries expense $ 135,000 Depreciation expense-Factory equipment 52,400 Depreciation expense-Delivery vehicles 36,200 Depreciation expense-Office equipment 24,800 Advertising expense 22,350 Direct labor 268,000 Factory supplies use 12,000 Income tax expense 91,500 Indirect labor 35,000 Indirect material 24,000 Factory insurance 15,500 Factory utilities 14,000 Factory maintenance 7,500 Inventories: Raw materials inventory, January 1, 2020 32,000 Raw materials inventory, December 31, 2020 28,000 Work in Process inventory, January 1, 2020 33,780 Work in Process inventory, December 31, 2020 37,460 Finished goods inventory, January 1, 2020 56,970 Finished goods inventory, December 31, 2020 62,000 Raw materials purchases 325,000 Rent expense-Factory 50,000 Rent expense-Office space 24,000 Rent expense-Selling Space 24,000 Sales salaries expense 97,500 Sales, net of discounts 1,423,000 Make sure to follow all requirements of the checklist