Bravo Company manufactures quality gentlemen's clothing. The following selected financial information for the fiscal year 2016 is provided: ltem Amount Sales $100,000 Cost of Goods Manufactured 85,000 Direct Material Purchased 40,000 Factory Overhead 10,000 30,000 15,000 10,000 Work in Process-January 1 Work in Process December 31 Direct Material December 31 Finished Goods Inventory December 31 60,000 15,000 30,000 45,000 Net Income Direct Materials used Cost of Goods Sold Use this information to prepared Bravo's Income Statement for FY 2016. Include a detailed Cost of Goods Sold section within this income statement: (Round dollar values & enter as whole dollars only.)