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 30,750 452,500 546,000 286,000 56,700 46,400 37,100 25,400 40,250 100.550 133,700 30.550 35,250 42,400 329,250 3,062,000 Required: Prepare a statement of cost of goods manufactured and an income statement for For Wind Yachts for the year ended December 31 Complete this question by entering your answers in the tabs below. Stmt of COGM Income Statement Fair Wind Yachts Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials Materials available Direct materials used Factory overhead Total factory overhead Direct materials used Factory overhead Total factory overhead Total manufacturing costs to account for Total manufacturing costs Cost of goods manufactured Income Statement > 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 expenses < Stmt of COGM