Consider the following information for Huntersville Incorporated for the fiscal year ended December 31.

Depreciation expenseadministrative office	$ 33,750
Depreciation expenseplant and equipment	88,500
Direct laborwages	507,000
Materials Inventory, December 31	29,750
Materials Inventory, January 1	21,500
Direct materials purchases	167,500
Finished goods inventory, December 31	24,400
Finished goods inventory, January 1	15,500
Heat, light, and powerplant	45,500
Indirect labor	26,000
Property taxesplant	35,250
Sales representatives salaries	147,500
Sales revenue	1,541,000
Factory supervisors salary	66,750
Suppliesadministrative office	17,000
Suppliesplant	29,500
Work-in-process inventory, December 31	10,000
Work-in-process inventory, January 1	24,250

Required:

Prepare a statement of cost of goods manufactured and an income statement for Huntersville for the year ended December 31.