Alexandria Aluminum Company, a manufacturer of recyclable soda Cans, had the following inventory balances at the beginning and end of 2005.

Inventory classification	January 1,2005	December31,2005
Raw material Work in process Finished goods	$ 60,000 120,000 150,000	70,000 115,000 165,000

During 2005, the company purchased $ 250,000of raw material and spent $400,000 on direct labor.

Manufacturing overhead costs were as follow:

Indirect material $ 10,000

Indirect labor 25,000

Depreciation on plant and equipment 100,000

Utilities 25,000

Other 30,000

Sales revenue was $ 1,105,000 for the year. Selling and administrative expenses

For the year amounted to $ 110,000. The firms tax rate is 40%.

Required:

Prepare a schedule of cost goods manufactured.

Prepare a schedule of cost of goods sold.

Prepare an income statement.