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

Indirect factory labour		$5,420
Direct materials used		252,400
Work in process (1/1/2020)		31,800
Work in process (12/31/2020)		27,200
Finished goods (1/1/2020)		35,900
Finished goods (12/31/2020)		28,500
Factory utilities		41,100
Depreciation, factory equipment		34,300
Direct labour		300,900
Indirect materials		22,600
Factory managers salary		63,300
Selling and administrative expenses		341,200
Net sales		1,234,000
Factory machinery rent		42,700

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

Axteks Corporation Income Statement December 31, 2020Month Ended December 31, 2020Year Ended December 31, 2020
Selling and Administrative ExpensesGross ProfitNet SalesFinished Goods Inventory, January 1Cost of Goods ManufacturedCost of Goods Available for SaleCost of Goods SoldFinished Goods Inventory, December 31Net Profit / (Loss)				$
Selling and Administrative ExpensesFinished Goods Inventory, December 31Finished Goods Inventory, January 1Net SalesCost of Goods Available for SaleGross ProfitCost of Goods ManufacturedNet Profit / (Loss)Cost of Goods Sold
Finished Goods Inventory, January 1Cost of Goods ManufacturedNet SalesNet Profit / (Loss)Cost of Goods SoldFinished Goods Inventory, December 31Gross ProfitSelling and Administrative ExpensesCost of Goods Available for Sale		$
Cost of Goods Available for SaleNet Profit / (Loss)Cost of Goods ManufacturedNet SalesSelling and Administrative ExpensesFinished Goods Inventory, December 31Gross ProfitCost of Goods SoldFinished Goods Inventory, January 1
Cost of Goods ManufacturedCost of Goods SoldNet Profit / (Loss)Gross ProfitFinished Goods Inventory, December 31Cost of Goods Available for SaleFinished Goods Inventory, January 1Net SalesSelling and Administrative Expenses
AddLess: Cost of Goods Available for SaleNet Profit / (Loss)Net SalesGross ProfitFinished Goods Inventory, January 1Finished Goods Inventory, December 31Selling and Administrative ExpensesCost of Goods ManufacturedCost of Goods Sold
Net Profit / (Loss)Gross ProfitFinished Goods Inventory, December 31Finished Goods Inventory, January 1Cost of Goods Available for SaleCost of Goods ManufacturedSelling and Administrative ExpensesNet SalesCost of Goods Sold
Finished Goods Inventory, January 1Gross ProfitCost of Goods SoldCost of Goods ManufacturedNet Profit / (Loss)Finished Goods Inventory, December 31Selling and Administrative ExpensesNet SalesCost of Goods Available for Sale
Finished Goods Inventory, January 1Net SalesFinished Goods Inventory, December 31Gross ProfitNet Profit / (Loss)Cost of Goods Available for SaleSelling and Administrative ExpensesCost of Goods SoldCost of Goods Manufactured
Finished Goods Inventory, January 1Cost of Goods ManufacturedCost of Goods Available for SaleNet SalesNet Profit / (Loss)Gross ProfitCost of Goods SoldFinished Goods Inventory, December 31Selling and Administrative Expenses				$