Baleen Company supplied the following data at the end of the current year: Sales commissions $12,000 Sales revenue 120,000 Research and development 17,000 Finished goods inventory, Jan. 1 7,500 Work-in-process inventory, Jan 1 9,000 Finished goods inventory, Dec. 31 6,000 Work-in-process inventory, Dec. 31 11,000 Cost of goods manufactured 52,000 Required: Prepare an income statement for Baleen Company. Baleen Company Income Statement For the Year Ended December 31, 2022 Sales revenue Cost of goods manufactured Gross margin 120,000 -52,000 68,000