Almeda Products, Inc. uses a job-order costing system. The company's Inventory balances on Aprll 1 , the start of its fiscal year, were as follows: During the year, the following transactions were completed: a. Raw materlals were purchased on account, $166,000. b. Raw materlals were issued from the storeroom for use in production, $168,000(75% direct and 25% indirect). c. Employee salarles and wages were accrued as follows: direct labour, $258,000; Indirect labour, $81,200; selling and administrative salarles, $89,200. d. Utillty costs were incurred in the factory, $64,200. e. Advertising costs were incurred, $99,200. f. Prepald Insurance expired during the year, $19,200 (75\% related to factory operations, and 25% related to selling and administrative activitles). g. Depreclation was recorded, $164,000 (60\% related to factory assets, and 40% related to selling and administratlve assets). h. Manufacturing overhead was applied to jobs at the rate of 105% of direct labour cost. I. Goods that cost $505,000 to manufacture according to thelr job cost sheets were transferred to the finished goods warehouse. J. Sales for the year totalled $920,000 and were all on account. The total cost to manufacture these goods according to thelr job cost sheets was $520,000. 4. Prepare an Income statement for the year