Acctg 1B Practice Problem #1 Prepare a Statement of Cost of Goods Manufactured and an Income Statement for Awesome Corporation for the year ended, December 31, 2022. Factory Building Materials inventory, Dec 31, 2022 Accounts Receivable Depreciation expense, Office Equipment Indirect Materials Office Equipment Salaries Expense - Corporate Office Maintenance & Repairs, Factory Work in process inventory, Dec 31, 2022 Common Stock Factory Patents Materials inventory, Jan 1, 2022 Sales Merchandise Inventory Advertising Expense Direct labor Materials purchases Depreciation expense, Factory Building Factory Supervisor Salaries Depreciation expense, Corporate Office Building 10,290,000 Factory Equipment 3,421,801 Factory supplies used 1,100,000 Finished goods inventory, Jan 1, 2022 615,000 Retained Earnings 2,180,000 Amortization Expense, Factory Patents 1,770,290 Sales Commissions 9,600,000 Work in process inventory, Jan 1, 2022 1,000,000 Insurance Expense - Corporate Office 7,285,000 Property Taxes, Factory Building 11,200,000 Utilities Expense, Corporate Building 2,270,000 Notes Payable 7,815,260 Insurance Expense - Factory Building 65,790,110 Office Supplies 9,000,000 Office Supplies Expense 10,310,795 Corporate Office Building 7,500,100 Interest Expense 2,683,475 Depreciation expense, Factory Equipment 3,950,625 Factory utilities 6,100,000 Finished goods inventory, Dec 31, 2022 2,400,000 Property Taxes, Corporate Building 5,500,000 556,200 9,570,220 8,000,000 818,260 5,400,200 4,300,175 595,000 1,749,000 920,000 9,630,000 1,500,000 670,000 1,150,200 10,500,000 100,000 495,000 460,000 10,289,760 845,000

Prepare a Statement of Cost of Goods Manufactured and an Income Statement for Awesome Corporation for the year ended, December 31, 2022