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 155,5e0 77,288 325, 500 48,850 21,500 26,25e 437,508 534, eee 280,eee 56,10e 45, 200 35, 300 24,200 38,750 99,650 133,10e 79,650 33,750 41,200 327,75e 2,999, eee 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 Required: Prepare a statement of cost of goods manufactured and an income statement for Fair Wind Yachts for the year ended December 31 Income Stmt of COGM 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 Total factory overhead Total manufacturing costs to account for Total manufacturing costs Cost of goods manufactured Income Statement Stmt of COGM Income Stmt of COGM 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 expenses Income Statement