Ch3 Problem i 1 The following data pertain to Spartan Products Company: 6 points Sales revenue Materials inventory, Jan. 1 Direct labor-wages Depreciation expense-plant and equipment Indirect labor-wages Heat, light, and power-plant $2,650,000 31,000 405,000 91,000 16,000 17,500 eBook Supervisor's salary-plant 51,000 Finished goods inventory, Jan. 1 40,500 Work-in-process inventory, Dec. 31 30,500 To Supplies-administrative office 8,200 References Property taxes-plant 35,000 Finished goods inventory, Dec. 31 51,000 Materials inventory, Dec. 31 35,500 Sales representatives' salaries Work-in-process inventory, Jan. 1 355,000 46,000 Materials purchases 232,000 Supplies-plant 8,400 Depreciation-administrative office 46,500 Required: Prepare a statement of cost of goods manufactured and an income statement for Spartan Products Company for the year ended December 31. Complete this question by entering your answers in the tabs below. Stmt of COGM Income Statement Prepare an income statement for Spartan Products Company for the year ended December 31. Cost of goods sold SPARTAN PRODUCTS COMPANY 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 >