A review of accounts showed the following for Mediterranean Parts Company for last year. Administrative costs 1,216.000 Depreciation, manufacturing 412,000 Direct labor 1.928,000 Direct materials purchases 1.252.000 Direct materials inventory, January 1 408,000 Direct materials inventory, December 31 324,000 Finished goods inventory, January 1 640,000 Finished goods inventory, December 31 588,000 Heat, light, and power-plant 348,000 Advertising costs 1,088.000 Miscellaneous manufacturing costs 48,000 Plant maintenance and repairs 296,000 Sales revenue 8,144,000 Supervisory and indirect labor 508,000 Indirect materials and factory supplies used 56,000 Work-in-process inventory, January 1 540,000 Work-in-process inventory, December 31 568,000 Required: a. Show all journal entries according to 7/A (All revenues and costs are collected or paid, except non-cash items in nature. b. Prepare an income statement and a supporting cost of goods sold statement for the company