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 Direct labor Indirect labor Finished goods inventory, beginning Finished goods Inventory, ending Insurance on plant Heat and light for plant Repairs on plant building Supervisor's salary-plant Supplies-plant Supplies-administrative office Work-in-process inventory, beginning Work-in-process inventory, ending Sales representatives salaries Sales revenue $ 158,500 78,400 328,500 50,950 24,500 38,750 452,500 546,000 286,000 56,700 46,400 37,100 25,400 40,250 100.550 133,700 80,550 35,250 42,400 329, 250 3,062,000 Required: Prepare a statement of cost of goods manufactured and an income statement for Fair Wind Yachts for the year ended December 31 Required: Prepare a statement of cost of goods manufactured and an income statement for Fair Wind Yachts for the year ended December 31 Complete this question by entering your answers in the tabs below. Stmt of COGM Income Statement Prepare a statement of cost of goods manufactured for Fair Wind Yachts for the year ended December 31, Fair Wind Yachts Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials Materials available Direct materials used Factory overhead Materials available Direct materials used Factory overhead Total factory overhead Total manufacturing costs to account for Total manufacturing costs Cost of goods manufactured Income Statement > Stmt of COGM Income Statement Prepare an income statement for Fair Wind Yachts for the year ended December 31. Fair Wind Yachts Income Statement For the Year Ended December 31 Cost of goods sold Total goods available for sale Cost of goods sold Total selling & administrative exponses