Consider the following information for Fair Wind Yachts Inc., a manufacturer of sailboat rigging, blocks, and cordage.

Advertising expenses$160,000

Depreciation expenseadministrative office79,000

Depreciation expenseplant and equipment330,000

Depreciation expensedelivery trucks52,000

Materials inventory, beginning26,000

Materials inventory, ending33,000

Direct materials purchases460,000

Direct labor

552,000Indirect labor289,000

Finished goods inventory, beginning57,000

Finished goods inventory, ending47,000

Insurance on plant38,000

Heat and light for plant26,000

Repairs on plant building41,000

Supervisor's salaryplant101,000

Suppliesplant134,000

Suppliesadministrative office81,000

Work-in-process inventory, beginning36,000

Work-in-process inventory, ending43,000

Sales representatives' salaries330,000

Sales revenue3,093,000

Required:

I need to create a statement of cost of goods manufactured and an income statement for Fair Wind Yachts for the year ended December 31.