Comprehensive Problem#1 The Dewaan Manufacturing Co. present the following information for the year ended 31st Decembe 1999 Sales Sales Returns and Allowances Purchases of Raw Material Carriage In Direct Labour Purchases Return Indirect Material Indirect Labour Rent of Factory Factory Taxes Insurance of Factory Building Depreciation of Plant and Machinery Heat. Light and Power 700 252000 2000 96200 300 40000 1200 4300 4700 3500 1150 1500 3425 2225 Commission 2500 Advertising 4000 Depreciation of Sales Office 2200 Traveling Expense 1800 Bad Debts Salaries 2000 Stationery Used 1125 Rent of Office 1500 Interest Received 1110 Interest Paid 275 INVENTORIES Raw Material Work in Process Finished Goods Jan. 1 9000 16100 17600 Dec. 31 12000 13900 15300 REQUIRED: 1) Prepare Cost Of Goods Manufactured and Sold Statement 2) Prepare Income Statement