Case 1 2 Direct materials used $ 10,190 $ 3140 (g) 5,130 8,660 Direct labor Manufacturing overhead 8,720 4,960 Total manufacturing costs 24040 (a) 16,760 Beginning work in process inventory 1,840 9950 (h) Ending work in process inventory 7870 (b) 3,920 Sales revenue 25,500 33650 (i) 2,880 2,240 Sales discounts Cost of goods manufactured 18,010 22,790 Beginning finished goods inventory 4610 4,140 (c) Cost of goods available for sale 22,620 26930 (1) Cost of goods sold 18940 23660 (d) (k) Ending finished goods inventory 3,680 3,270 Gross profit 3680 7,750 (e) Operating expenses 3,250 1760 Net income 430 5,990 (f) Prepare an income statement for Case 1. CASE 1 Income Statement For the Year Ended December 31, 2022 Sales Revenue $ 25,500 Less V Sales Discounts 2.880 Net Sales A 22,620 Cost of Goods Sold