Axteks Corporation has the following cost records for the year ended December 31, 2020:

Indirect factory labour $5,480Direct materials used 250,300Work in process (1/1/2020)31,400Work in process (12/31/2020)26,300Finished goods (1/1/2020)35,900Finished goods (12/31/2020)29,100Factory utilities40,100Depreciation, factory equipment34,400Direct labour302,000Indirect materials23,000Factory manager's salary63,100Selling and administrative expenses341,300Net sales 1,238,000Factory machinery rent42,200

Prepare cost of goods manufactured schedule for 2020.

Axteks Corporation

Cost of Goods Manufactured

Year Ended December 31, 2020

$

$

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$

:

$

Prepare income statement for 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Baxter Corporation

Income Statement

$

$

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