Ch3 Problem 6 2 points Skipped Consider the following information for Fair Wind Yachts Inc., a manufacturer of sailboat rigging, blocks, and cordage. Advertising expenses Depreciation expense-administrative office Depreciation expense-plant and equipment Depreciation expense-delivery trucks Materials inventory, beginning Materials inventory, ending Direct materials purchases $ 152,000 75,800 322,000 46,400 18,000 21,000 420,000 Direct labor 520,000 Indirect labor 273,000 eBook Finished goods inventory, beginning 55,400 Finished goods inventory, ending 43,800 Insurance on plant 33,200 Heat and light for plant 22,800 References Repairs on plant building 37,000 Supervisor's salary-plant 98,600 Supplies-plant 132,400 Supplies-administrative office 78,600 Work-in-process inventory, beginning 32,000 Work-in-process inventory, ending 39,800 Sales representatives' salaries Sales revenue 326,000 2,927,000 Required: Prepare a statement of cost of goods manufactured and an income statement for Fair Wind Yachts for the year ended Decembe Complete this question by entering your answers in the tabs below. Stmt of COGM Income Statement Prepare an income statement for Fair Wind Yachts for the year ended December 31. Cost of goods sold Fair Wind Yachts Income Statement For the Year Ended December 31 Total goods available for sale Cost of goods sold Total selling & administrative expenses < Stmt of COGM Income Statement