Dave's Auto Parts Inc. received the following monthly report from its newly hired accountant, who quit after only a week on the job. Dave's Auto Parts, Inc. Cost of Goods Sold Schedule Finished Goods Inventory (beginning) Work-in-Process Inventory (beginning) Total $15,000 3.000 $18,000 Salaries and wages: Current Manufacturing Costs: Direct manufacturing labour $5,000 Indirect manufacturing labour 2,000 Sales salaries 4,000 Administrative 3,000 $14,000 Other: Manufacturing supplies Manufacturing amortization Insurance on showroom Miscellaneous factory overhead Total Work in Process Ending Work-in-Process and Finished Goods Inventory Cost of Goods Sold $1,500 3,500 1,000 6,500 12.500 26,500 $44,500 $44,500 Sales Less direct materials Gross profit Less other expenses: Dave's Auto Parts, Inc. Income Statement $100,000 20,000 $80,000 Cost of goods sold $44,500 Office supplies 250 Manufacturing utilities 1,000 Office utilities 250 46,000 Net Income $34.000 Required: a. Prepare a cost of goods manufactured schedule. b. Prepare an income statement in good form.