Accounts	$
Sales	650,000
Direct Labor	70,000
Purchase return and allowance	4,500
Applied MOH	39,000
Freight in	1,000
Work-in process, Jul 01, 2018	30,000
Work-in process, Jun 30, 2019	20,000
Purchases	105,000
Raw material inventory, Jul 1, 2018	35,000
Raw material inventory, Jun 30, 2019	25,000
Salaries expense (50% admin, 50% Marketing)	15,000
Advertisement expense	10,000
Rent Expense (30% admin, 70% Marketing)	20,000
Depreciation of office vehicles	7,500
Finished goods inventory, Jul 1, 2018	20,000
Finished goods inventory, Jun 30, 2019	30,000
Purchase discount Required: Prepare Cost of goods sold statement. Prepare income statement.	2,000